Indonesian unicorn startup Go-Jek, is reportedly on verge of closing two investment deals with Indian startups — on-demand food startup Rebel Foods (Commonly known as Faaso’s) and e-sports platform Mobile Premier League, said a report by Times of India, citing sources privy to the matter.
Go-Jek intends to set up a joint venture (JV) with Pune headquartered Rebel Foods, which operates over half a dozen online restaurant brands like Faasos and Behrouz Biryani. The two companies may jointly invest $8-10 million initially in the JV.
The combined entity will be headed by one of the senior executives from Rebel Foods, said the report.
Backed by Singapore’s Temasek Holdings, Go-Jek is an on-demand super app that covers everything from ride-hailing, food delivery and payments & financial services, has a large food delivery business called Go-Food, which has more than 3 lakh merchants on its platform and the company intends to take the cloud kitchen expertise of Rebel Foods to the Southeast Asian market.
The TOI report further suggests that Go-Jek is also leading a $30 million round in gaming startup Mobile Premier League (MPL). Times Internet and existing investor Sequoia Capital India will also contribute in the round which would value the 10-month-old startup at around $150 million.
Registered in Singapore and founded by founders of CREO — Sai Srinivas Kiran Garimella and Shubham Malhotra, MPL had raised about $5 million in November last year and was recently in news for roping in Virat Kohli as a brand ambassador. Launched in September 2018, users can play games on MPL, ranging from cricket to pool to racing, and win money, depending on contests.Go-Jek and MPL spokespersons declined to comment. Rebel Foods CEO Jaydeep Barman said, “this is speculation at this point”.
Go-Jek has had a presence in India since 2016 for engineering and product development. In October, it had said that it plans to hire 200 more engineers in India.
In February last year, it was reported that Go-Jek is planning to launch its bike-taxi service in India in the second half of 2018. However, things has not materialize due to India’s street laws for two-wheelers asstate transport authorities often refuse to recognize bike-taxi service as legal.
In 2016, Go-Jek acquired Leftshift, a Pune-based mobile application developer that specialized in designing and engineering mobile applications for popular startups such as BookMyShow and Walnut. The acquisition was aimed at strengthening and upscaling GO-JEK’s product development, design and engineering platforms to support the unicorn’s burgeoning Indonesia operations.
The Indonesian firm had also acquired three more Indian startups — C42 Engineering, Pianta and CodeIgnition.
Besides Go-Jek, an another Indonesian startup Moka was active in India when in late last year it acquired GetFocus, an innovative Mumbai-based retail-tech startup, for an undisclosed amount. GetFocus uses indoor navigation technology that utilizes existing hardware, like WiFi and mobile phones, to accurately locate consumers inside indoor locations such as malls, shops, airports, warehouses etc.
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