Telkomsel has invested an additional US$300 million (S$397 million) in Gojek, with plans to strengthen their existing tie-up.
The Indonesian network service provider, which is a subsidiary of Telkom Indonesia and Singtel, had invested US$150 million in Gojek in November last year.
Both parties said in a joint statement yesterday that the additional investment has the approval and support of Telkomsel's shareholders, including Telkom Indonesia and Singtel.
Gojek co-chief executive Andre Soelistyo said the additional investment will strengthen the collaboration between the firms. Together, they hope to accelerate Indonesia's digital transformation.
Telkomsel and Gojek aim to explore more opportunities to integrate their digital services and continue to work together to grow Indonesia's digital lifestyle sector.
Telkomsel chief executive Setyanto Hantoro said the investment is part of the company's strategy to strengthen its three digital business pillars - digital connectivity, digital platform and digital services.
Since Telkomsel's initial investment, both companies have integrated various aspects of their services, such as Telkomsel's MyAds with GoBiz.
In addition, they have rolled out affordable data packages for Gojek driver-partners and also co-marketed gaming services in collaboration with Tencent, to name a few, the joint statement said.
THE BUSINESS TIMES