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Indonesian media conglomerate, Emtek, to invest $375m in Grab’s Indonesia unit

Grab is a regional superapp
Indonesian media conglomerate, Emtek, to invest $375m in Grab's Indonesia unit 73

Elang Mahkota Teknologi (Emtek Group), an Indonesian media conglomerate, is investing US$375 million in Grab — one of the largest unicorn startups in Southeast Asia.

Emtek holds a stake in several media companies, OMNI hospitals, e-wallet DANA, one of the largest e-commerce platform in Indonesia, Bukalapak and more.

Indonesian media conglomerate, Emtek, to invest $375m in Grab's Indonesia unit 74
Indonesia’s e-wallet, DANA

Grab is a regional superapp, providing ride-hailing, food delivery, e-wallet and more. Emtek is investing in Grab’s Indonesia’s unit.

The deal is intended to help Grab expand its market in the digital payments sector, while increasing its stake in e-wallet OVO.

Wilfred Tan
Former journalist cum editor. I lead the content creation process at News Asia Today. From the awesome country of Malaysia.