Indonesian super app Gojek recently announced that its video streaming platform, GoPlay has closed its first independent funding round. The round was led by ZWC Partners and Golden Gate Ventures. The funding round also saw participation from Openspace Ventures, Ideosource Entertainment, and Redbadge Pacific.
With local shows and films attracting larger audiences in Indonesia, the company plans to use the new funding to enhance GoPlay’s technology and enable more Indonesian filmmakers to showcase their talent and meet consumer demand for high-quality local content.
The recent announcement from the Indonesian unicorn comes in less than a week after it announced securing new investments from Facebook, PayPal, Google and Tencent. Gojek is currently raising new funds as part of its ongoing Series F round.
Since launching in September 2019, GoPlay has quickly expanded its presence as Indonesia’s only on-demand video platform for high-quality local content, reaching hundreds of thousands of mobile users through the Gojek ecosystem and beyond.
GoPlay serves as a platform for Indonesian filmmakers to introduce and distribute their work to a broader market, while providing consumers with exclusive access to hundreds of locally produced movies and shows.
Last week, it was reported that Gojek would be spinning off GoPlay, which had secured about US$15 million in funding. Gojek declined to comment on the matter.
Commenting on the recent investment, Edy Sulistyo, CEO of GoPlay, said, “We are proud that investors see value in what GoPlay is trying to achieve. We have been working hard to establish and fine tune GoPlay’s technology and offering over the past year and the time is now right to bring in partners with deep industry expertise to spur our growth. By combining the resources and expertise of these partners with Gojek’s footprint in Indonesia, we are well-positioned to support and grow Indonesia’s creative industry, while continuing to reach more consumers with quality local content.”
Patrick Cheung, Founding and Managing Partner of ZWC Partners, said, “We are very glad that Gojek and Edy recognize the value ZWC Partners can add to the development of GoPlay, in terms of our know-how, experience, resources and networks in China. We are very optimistic about the potential of Indonesia’s fast-growing online entertainment sector and believe our years of experience in the media and technology sectors combined with GoPlay’s localization capabilities and Gojek’s tech ecosystem, will help accelerate GoPlay’s exponential growth.”
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