Indonesian wearable tech startup Zulu confirms Gojek backing

Indonesia-based wearable tech startup Zulu has confirmed that it previously secured an undisclosed amount of investment from ride-hailing giant Gojek.

Photo credit: Afif Kusuma / Unsplash

“We secured funding from Gojek in August 2018 after pitching our business in January 2018,” Zulu co-founder and chief technology officer Yusuf Syaid told DealStreetAsia. “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].”

Local media Daily Social first reported about the investment, citing sources. Tech in Asia has reached out to both Gojek and Zulu for a statement.

According to Syaid, Zulu also helped Gojek with its internal supply chain digitalization process by creating RFID-based barcodes for rider jackets and helmets. At the time, the startup produced over 2 million pieces, “with more ongoing for their future driver attributes like the GoFood bag and so on in the pipeline,” the exec added.

Founded in 2018, Zulu offers products such as Bluetooth-enabled motorcycle helmets that let users access calls and GPS navigation hands-free. It also offers air pollution-filtering masks, riding gloves, as well as goggles through ecommerce platform Lazada.

According to DealStreetAsia, Gojek is currently the sole investor in Zulu, which is gearing up to raise funds in a series A round. It plans to use the new funds to grow its team and launch stealth projects, according to Syaid, who declined to disclose details about the company’s target amount.

The deal with Zulu marks Gojek’s first investment in Indonesia’s consumer goods industry. So far, the ride-hailing company’s investments have been in the business-to-business segment.

For instance, Gojek was reportedly in talks to acquire local mobile point-of-sale startup Moka. A source close to Moka told Tech in Asia that the deal is expected to be worth over US$100 million.