Google´s parent Alphabet has announced an investment in Indonesian ride-hailing service Go-Jek.
Alphabet is investing in the challenger to ride-hailing services Uber and Grab in Indonesia, alongside investors Meituan-Dianping of China and Temasek, the Singaporean sovereign fund.
The latter three made up a $1.2bn tranche of final fund raising in Go-Jek that was launched in April last year.
In all, $4bn has been invested in Go-Jek with Chinese technology players Tencent and JD.com also among those injecting funds.
“Go-Jek is led by a strong Indonesian management team and has a proven track record of using technology to make life more convenient for Indonesians across the country. This investment lets us partner with a great local champion in Indonesia’s flourishing start-up ecosystem, while also deepening our commitment to Indonesia’s internet economy,” said Alphabet vice president Caesar Sengupta.
Along with taxis and motorbikes, Go-Jek also provides services such as grocery delivery and mobile payments.
While Go-Jek already leads Uber and Grab in the Indonesian market, Grab has emerged as the leader across the Southeast Asia region.
Although Go-Jek currently only operates in Indonesia, it plans to take its Go-Pay mobile payment service into other markets.
Last year, a report co authored by Alphabet predicted that ride-hailing in the South East Asian region would become a $20.1bn industry by 2025 compared to $5.1bn at present.
In December, Alphabet made its first direct investment in an Indian start-up, personal concierge app Dunzo.