Series F Funding Gojek Called to Reach $3 Billion, Mitsubishi's Participation Establishes "Decacorn" Status

Mitsubishi yesterday (08/7) formally announced it has invested in Gojek. In detail, the funding that entered the F series was attended by three entities including Mitsubishi Corporation, Mitsubishi UFJ Financial Group, and Mitsubishi Motors.

Previously JD, Tencent, Google, and Astra International had also announced their participation in the funding. The series F round has begun Gojek since October 2018.

Confirm "decacorn" status

According to news circulating, the company is targeting to raise up to $3 billion or equivalent to IDR 42,3 trillion in series F, an increase from the previous target of $2 billion. At least for this round reported has raised $1,6 billion, so we can be sure that participation from other investors is still open.

Last January 2019, after the opening of series F by JD, Tencent and Google, valuation Gojek estimated has reached $9,5 billion. With the additions from Astra in March 2019 and Mitsubishi in July 2019, it is certain that the "decacorn" status is already owned by the company ride hailing the local.

Since last April 2018 Gojek has been predicted to succeed in becoming Indonesia's first decacorn.

Steady Southeast Asia expansion

In a release, Mitsubishi Motors Chairman Osamu Masuko said the group's interest in investing in the "super app" platform was due to the belief that we could win the Southeast Asian market together.

Such that disclosed Nadiem Makarim, the company's commitment to fundraising at the F series stage it is to launch business expansion. Its realization has been seen in several countries, including Vietnam, Thailand, and Singapore.

Previously also announced at the beginning of the year, Gross Transaction Value (GTV) Gojek has reached more than $ 9 billion, dominated by Go-Pay transactions that process $ 6,3 billion and Go-Food processes $ 2 billion.

Then speaking if talking about competition, then it will still be struggling between Gojek vs Grab. Both, with ambition great app, both want to win the Southeast Asian market, with almost the same form of service.

Both of them have also achieved milestone decacorns. Last known, post-investment valuation from SoftBank's Vision Fund Grab reached $14 billion.