Gojek Notches $1.2B In Funding To Compete With Rival Grab

To compete with Grab Holdings, Gojek has beaten tech industry tumult amid the coronavirus pandemic and notched $1.2 billion in fundraising, Bloomberg reported.

The new funding was made final as the coronavirus accelerated its growth during the past week and brought about market routs throughout the world.

Co-CEOs Andre Soelistyo and Kevin Aluwi said per an internal document cited by the report, “We’re not stopping there as we are still seeing strong demand among the investment community to partner with us. There are a number of exciting ongoing conversations that we will be able to update you on very soon.”

The new fundraising of Gojek represents one of the biggest deals to come to fruition as of the outbreak of the coronavirus earlier this year in China. In addition, it has occurred as investors have become more cautious when it comes to valuations in tech.

Full Content: PYMMTS

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.