(July 29): SoftBank will invest the US$2 billion ($2.7 billion) over five years through Grab to help accelerate the development of Indonesia’s digital infrastructure.
In particular, Grab and SoftBank will create a next-generation transport network for Indonesia based around an electric vehicle (EV) ecosystem.
Both companies will also develop geo-mapping solutions for Indonesia, to drive the country’s development and adoption of future technologies.
In the next three months, Grab will also launch affordable e-healthcare services in Indonesia, aiming to increase access significantly to doctors and medical services for all Indonesians.
The initiatives were announced after a meeting between Indonesia’s President Joko Widodo, Masayoshi Son, Chairman & CEO of SoftBank Group, Anthony Tan, CEO of Grab and Ridzki Kramadibrata, President of Grab Indonesia, at the Merdeka Palace in Jakarta.
The group discussed Indonesia’s ambition of becoming the largest digital economy in Southeast Asia over the next few years, by focusing on investment opportunities in the technology sector and developing homegrown technology talent.
SoftBank, which invested US$1.46 billion in Grab earlier this year, will seek to grow its presence in Indonesia.
Meanwhile, Grab has also announced plans for a second headquarters in Indonesia.
It will house Grab’s rapidly growing R&D centre in Jakarta and will be the dual headquarters for the GrabFood business.
Grab’s new headquarters will also focus on developing solutions that empower micro-entrepreneurs, like Grab-Kudo agents.
Grab says the second HQ will also provide career opportunities for thousands of Indonesians, and upskill more local tech talent in partnership with leading Indonesian universities.
