GoJek raises over $1 billion

Ride hailing startup Gojek, on Friday, announced that it has finalized deals to raise funds over $1 billion on its on going round of Series F led by Google, JD.com and Tencent. Other investors include Mitsubishi Corp and Provident Capital. It values the company between $8 billion to $10 billion.

Gojek will use the funds to double down on key verticals in Indonesia and strengthen its regional footprint. The company operates in the transport, food delivery and payments segments in its home market, Indonesia. It recently expanded its transport service to Singapore, Thailand and Vietnam.

Gojek will also further its strategic partnership with JD.com in Indonesia, via e-commerce joint venture, JD.id, and last- mile delivery logistics venture, J-Express.

Elvis Gomes