Funding

Grab Drives Hard In Gojek's Homeland - Plans To Invest US$2B Across Multiple Products In Indonesia

Grab announced today that it will invest US$2 billion into Indonesia over the next five years, using the capital received from Japan’s Softbank Group to “create a next-generation transportation network to transform how critical services are delivered.”

The announcement came after a meeting between Indonesian President Joko Widodo, SoftBank Chairman and CEO Masayoshi Son, Grab CEO Anthony Tan and Grab Indonesia President Ridzki Kramadibrata in Jakarta.

According to a statement released earlier today, the investment will be used to drive the digitisation of crucial services and infrastructure.

Initiatives include creating an electric vehicle ecosystem for a greener transport grid, as well as developing geo-mapping solutions to better facilitate the adoption of future technologies.

“Indonesia is our largest market, and we are committed to long-term sustainable development of the country,” Tan said.

“We believe by investing in digitising critical services and infrastructure, we hope to accelerate Indonesia’s ambition to become the largest digital economy in the region and improve the livelihoods of millions in the country.”

In the next three months, Grab will also be launching e-healthcare services in Indonesia, so as to increase access to doctors and medical services for all Indonesians.

As part of Grab’s “long-term commitment to Indonesia”, the company also announced plans to build a second headquarters in Indonesia, which will house their R&D centre and be the dual headquarters for GrabFood as well.

“Grab is an Indonesia-focused company. Having our second headquarters in Jakarta will allow us to better serve the needs of all Indonesians and those from emerging economies in the region.” Kramadibrata said.

“We are also well positioned to support more high tech industries and infrastructure companies originating from Indonesia.”

The new headquarters will also provide career opportunities for “thousands of Indonesians,” and upskill more local tech talent in partnership with Indonesian universities.

According to a CSIS and Tenggara Strategic research report, Grab’s contribution to Indonesia’s economy in 2018 was approximately US$3.5 billion.

Header Image Credit: Grab

 

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