After a series of speculations that Grab and Gojek were going to merge, it turns out that both companies will still continue their rivalry.
Gojek has just announced that the company has secured a US$1.2 billion investment as part of their Series-F round, according to a Bloomberg report.
Some of the investors in the round include Google, JD.com, and Tencent, where all 3 are not investors in Grab.
Many major conglomerates from the U.S. and China have long been eyeing SouthEast Asia as a viable market to push their products and services further, and see investing in Gojek bringing major strategic value to them.
Gojek will be using the funds to continue expanding their business despite the challenging economic outlook, and to increase their market share in areas outside of Indonesia.
The investment puts Gojek in a strong position to compete heavily with rival company Grab.