Zulu featured image
Banking & Finance News Stories Technology

Gojek invests in Indonesian tech wearable startup Zulu

Zulu, Indonesia’s tech wearables firm has confirmed undisclosed investment from Gojek

Indonesia’s tech wearables and apparel firm ZULU has secured an unspecified investment from the ride-hailing Gojek, a Southeast Asian on-demand multi-service platform and digital payment technology group.

ZULU, founded in 2018 by Nathan Roestandy and Yusuf Syaid, manufactures Bluetooth-enabled helmets, pollution control masks, motorcycle jackets, gloves, and goggles. The goods can currently be found on the Lazada e-commerce platform.

Neither Gojek nor Zulu has not released any official statements regarding the investment yet.

Gojek is currently the sole investor in ZULU, which is also in the process of raising its Series A round. Declining to disclose any information about the startup’s fundraising objectives, Syaid said the new capital will be used to grow the team and launch stealth projects.

“We secured funding from Gojek in August 2018 after pitching our business in January 2018. From there, we were part of the Gojek rebranding campaign – managing production, QC and delivery of the two types of jackets [for Gojek driver-partners],” ZULU co-founder and CTO Yusuf Syaid said.

“We assisted Gojek’s internal supply chain digitalization process by creating smart barcodes using RFID – used in the new jackets and helmets, producing over two million pieces [in total], with more ongoing for their future driver attributes like the GoFood bag and so on in the pipeline,” Syaid added.

The ZULU investment is Gojek’s first in the consumer goods space in the country. So far, Gojek has made 11 acquisitions, with the most recent one being Indian AI-powered tech recruitment platform AirCTO in June last year. The firm has also invested in the Series D round of Indian cloud kitchen Rebel Foods. On the fundraising front, as reported earlier, Gojek will seek to complete its Series F financing round of at least $2 billion this year.

The transportation company has recently announced that it is taking a strategic interest in the Blue Bird taxi company. Gojek will take over 5% of the company to stay competitive with Grab as well as other competitors. Gojek has paid roughly $30 million for the deployment, which is equivalent to $600 million for Blue Bird.

ASEAN HR TECH VENTURE SUMMIT 2018
REGISTER NOW 33% DISCOUNT
SUMMIT PASS

Send this to a friend