GoJek secures investment in Indonesian tech wearable startup
Indonesia’s leading ride-hailing app Gojek has confirmed an investment of an undisclosed amount in tech wearables and apparels called Zulu, according to Deal Street Asia.
The proceeds will be used by ZULU, for team expansion and launching stealth projects. The co-founder Yusuf Syaid has refused to disclose further details on the startup’s plans for using the new capital but has planned on raising a Series A round as reported by Deal Street Asia.
Founded in Indonesia in 2018, Zulu is a tech and lifestyle company which creates Bluetooth motorcycle helmets, pollution control masks, motorcycle jackets, gloves, and goggles, all of which are currently available on e-commerce site Lazada.
“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, QR and delivery of the two types of jackets [for Gojek driver-partners],” said Syaid.
“We created smart barcodes using RFID in the new jackets and helmets, producing over two million pieces [in total], with more on going for their future driver attributes like the GoFood bag and so on,” he continued.
According to reports, GoJek is the sole investor in ZULU, but it is also its first investment in the consumer goods space in the region.
GoJek itself is seeking to complete its Series F round by this year.