Indonesian unicorn startup Go-Jek, which offers hyperlocal transport, logistics and payment services, is planning to launch its bike-taxi service in India in the second half of 2018, reported Economic Times, citing people aware of the development said.
To launch its bike taxi services, Go-Jek is is evaluating some southern cities, possibly Bengaluru, and the Gurugram-NCR region and it may launch a pilot in one of these cities at the end of this year.
The report further said that a big chunk of the Go-Jek’s most recent fundraise, which is pegged at approximately $1.2 billion, will be allocated towards expansion plans into developing markets like India.
The funraising the report is referring to is a follow-on round from 2017. Just yesterday, Indonesian conglomerate Astra International announced that it will invest $150 million in Go-Jek, joining the likes of Google and Temasek Holdings in the ride-hailing start-up’s latest round of fundraising pegged at approximately US $1.2 billion.
With Ola and Uber’s core focus not being on bike taxis, Go-Jek has the scope to enter and dominate the market over time. The company is evaluating an India entry later this year, said the Economic Times report.
According to the sources quoted in the report, Go-Jek has less to no scope for its bike-taxi service in developed countries but sees India as a huge opportunity. The company is likely to explore state government partnerships with select cities that do not have strict regulations where bike taxis are concerned.
It should be noted that although Go-Jek has yet to start its services in India, the company officially launched its India operations in November 2016 when it opened its engineering facility in Bengaluru that also serves as its headquarters in the India. Situated in the heart of Bengaluru city, this facility also become the training centre for hundreds of GO-JEK engineers both from Indonesia and India.
Notably, Go-Jek has also acquired four startups from India including Bangalore-based Pianta, a home healthcare services startup, in September 2016 followed by acquisition of Leftshift, a Pune based mobile application developer that specialized in designing and engineering mobile applications for popular start-ups such as BookMyShow and Walnut.
Founded in 2011 by Harvard graduate Nadiem Makarim, GO-JEK is currently the fastest growing start-up in South Asia and the largest in Indonesia in terms of valuation.