Led · Equity · May 2021

Gojek operates ride-hailing and payments services in Indonesia and has expanded into food delivery and other digital services. The company is working to seal a proposed merger with e-commerce platform Tokopedia to create a new entity called GoTo in an $18 billion deal, according to media reports. Gojek has raised over $3.45 billion to date from investors including Google, Facebook, PayPal, Visa, and Tencent. It maintains a strategic partnership with Telkomsel dating to 2018 that includes subsidizing mobile data costs for driver partners and integrations such as Telkomsel MyAds with GoBiz and onboarding MSME partners via the DigiPOS Aja! application. The firms also co-market gaming services through Telkomsel’s Dunia Games and GoPay in collaboration with Tencent. Telkomsel, which has more than 170 million subscribers, said the investment will open opportunities to scale digital services and innovations developed by homegrown companies. Gojek began as a ride-hailing service and has grown into a multi-service platform that includes digital payments and food delivery. The company serves about 170 million users in Indonesia. Gojek has raised over $3 billion to date and was valued at about $10 billion earlier this year. It has been lossmaking and competes directly with rival Grab. Gojek and telecom operator Telkomsel have an ongoing commercial relationship dating back to 2018 to subsidize driver mobile data usage. The firms say they will explore a broad range of collaboration opportunities to reach millions more Indonesians and deepen digital-economy adoption. Gojek operates ride-hailing, meal delivery, and payments services across Southeast Asia. The company announced a $1.2 billion funding round and has now raised nearly $3 billion in total. Investors in the latest round were not disclosed, although existing backers include Google, Tencent, and Temasek. Leadership is held by co-CEOs Andre Soelistyo and Kevin Aluwi after founder Nadiem Makarim left to become Indonesia’s education and culture minister. Gojek said it will use the new funding to expand operations and that it is engaged in ongoing conversations with potential partners. The company faces competition from Grab and has been the subject of merger-talk rumors; there were also unconfirmed reports of interest from Amazon. Gojek is an Indonesian ride-hailing and multi-service company that offers a range of on-demand services. The company has launched a new video streaming offering. Gojek plans to add Japanese content to that streaming service as part of a partnership with investors. The immediate financial development is a planned investment of about $50 million from the state-backed Cool Japan Fund. The investment is also intended to promote Japanese cuisine through Gojek’s platform. No other financial metrics or user numbers are provided in the article. Go-Jek operates a ride-hailing and on-demand services platform and is expanding its core transport offering across Southeast Asia. The company is raising a Series F round and pulled in $100 million from Astra, an existing investor. Go-Jek is aiming to bring in at least $2 billion in the round and has closed around half of that capital. Astra's investment includes a strategic joint venture to equip Go-Jek's cars with Astra's fleet management system, with a rollout starting with "thousands" of Go-Car drivers. The capital is being raised to expand Go-Jek's services regionally; the company recently launched its Thailand-based Get business, has expanded to Vietnam and Singapore, and is primed to offer services in the Philippines soon. The company is Indonesian and competing for regional market share.

Participated · Series C · Apr 2021

Halodoc is a Jakarta, Indonesia-based digital healthcare ecosystem platform that delivers an all-in-one application covering preventive to curative services. Led by CEO & co-founder Jonathan Sudharta, the company offers services including Home Lab (at-home health tests) and My Insurance (cashless outpatient access integrated with insurers). Halodoc focuses on health communication, education, and information to raise digital health literacy in Indonesia. The company works with the government to accelerate healthcare technology and telehealth regulation under the Ministry of Health. Halodoc said it will use the funds to expand operations, broaden its business reach, and widen its range of services. Early backers include Acrew Capital, Argor (previously Go-Ventures), Allianz X, Bangkok Bank, the Bill & Melinda Gates Foundation, HEAL Partners, Intudo Ventures and others. Halodoc operates a mobile app and website that enable live consultations with more than 20,000 licensed doctors across Indonesia. The platform launched an appointment service in 2020 that connects over 2,000 providers to patients in more than 180 cities. Its Health Store partners with 4,000+ pharmacies to deliver supplements, prescription drugs and other items; Chat with Doctor supports voice, video and chat interactions; and Appointment covers 1,000+ partner hospitals plus COVID-19 testing and vaccination scheduling. Founded in 2016 and led by CEO Jonathan Sudartha, Halodoc aims to deepen its penetration in key healthcare verticals across Indonesia. The company recently completed a new financing round which it plans to deploy toward expanding services and provider reach. The article does not disclose revenue or user counts beyond the provider and partner metrics noted above. Halodoc is an Indonesian healthtech platform offering online consultations with over 20,000 licensed doctors, prescription delivery, and lab test bookings. Founded in 2016, the standalone app also links with Go-Jek's Go-Med feature and uses Go-Jek drivers for medicine deliveries. The platform has collaborated with more than 1,400 hospitals and health service providers and integrates insurance services for hospital visits. Halodoc reports 2 million monthly active users, over 80% of whom are located outside Java, and its user numbers increased 25-fold in a 12-month period in 2018. The company raised IDR 920 billion (US$65 million) in a Series B led by UOB Venture Management to develop services and expand partnerships with health service and insurance providers. Management says the investment will accelerate development of its digital platform to increase access and convenience for millions of users in Indonesia. HaloDoc is Indonesia's first online healthcare application. The company operates an app-based platform delivering healthcare services in Indonesia. It announced it has secured a $13 million Series A funding round. The Series A was led by Clermont Group, a Singapore-based private investment firm. The article's headline also cites participation from Go-Jek and other unnamed investors. The article does not disclose operating metrics, future plans, or additional financial details.

Participated · Series B · Jan 2020

Roambee provides real-time location and condition monitoring solutions powered by a cloud platform, purpose-built multi-sensor IoT hardware and global connectivity options. The platform is augmented with Robotic Process Automation (RPA) to automate processes for transparent business operations. Roambee serves more than 300 global enterprises across pharma (clinical trials, cryogenics, hospital medication) and sectors including food & beverage, chemicals, automotive, manufacturing and logistics. The company is led by CEO Sanjay Sharma and has regional offices in Mexico, Brazil, UK, Germany, UAE, India, Malaysia and Indonesia. Roambee recently closed over $18M in a Series B1 round and intends to use the proceeds to expand its technology, services and global market penetration. Management is targeting a Series C round in Q2 2021. Roambee provides an on-demand shipment and asset monitoring platform for companies in manufacturing, logistics, transportation, finance, pharmaceutical and automotive industries. Its sensor logistics platform uses IoT sensors to collect data, artificial intelligence to deliver insights and foresights, and robotic process automation to automate operations. The real-time, multi-sensor visibility solution monitors goods and assets indoor, outdoor and in-transit to surface metrics such as current location, cold chain status, security breaches (tampering), route deviation and chain of custody. Customers include the top three global companies in pharmaceuticals, global logistics and food & beverages. The company has more than 200 paying customers and operates in Brazil, Mexico, India, Germany, the UK and the UAE. Roambee intends to use the new funds to expand operations and accelerate sales globally. Roambee is an Internet of Things (IoT) company that provides supply chain and enterprise asset visibility through proprietary sensors, software, and cloud technologies. Its platform offers real-time monitoring, alerts, analytics and predictive reporting to help enterprises mitigate risk and improve operations. The company is focused on in-transit and asset monitoring across global logistics networks. Founded in 2013 and based in Silicon Valley, Roambee has expanded across seven countries in the past 14 months. The firm is targeting rapid growth in Southeast Asia and plans to use recent investment to enter Indonesia, where Telkom Indonesia will be among its first regional customers. The company is backed by Deutsche Telekom, MDI Ventures, and other Silicon Valley investors and has received industry recognition including Compass Intelligence and IDC Market Intelligence awards. Roambee combines proprietary low-power sensors with a flexible SaaS analytics platform to deliver real-time supply-chain and condition monitoring for businesses. Its offering is anchored on on-demand, pay-per-use sensors that Roambee can manage for clients or deploy in a consulting-style engagement. The analytics layer prioritizes the most important alerts, makes real-time predictions about goods (e.g., temperature- and humidity-driven spoilage), and can identify which box contains products. The company improved sensor form factor and power management to meet logistics battery restrictions and enables devices to piggyback on networks to return for reuse. Roambee recently closed a $3.1M strategic investment from Deutsche Telekom Strategic Investments and secured a partnership with T-Systems to support global expansion. Management says it is exploring additional predictive features to expand its analytics capabilities.