Indonesia's Traveloka raises $250m to counter plunging demand

Qatar fund joins as backer of struggling travel booking unicorn

Indonesian travel startup Traveloka, one of the country's five unicorns with a value of $1 billion or more, has been hit hard by the coronavirus pandemic. (Photo by Rie Ishii)

SHOTARO TANI, Nikkei staff writer

July 28, 2020 18:22 JST

JAKARTA -- Travel booking service Traveloka, one of Indonesia's most valuable startups, said on Tuesday it received $250 million in funding from international investors, as it looks to survive plummeting demand for travel due to the new coronavirus.

The funding round was led by Qatar Investment Authority, a source familiar with the matter said, while Indonesian venture capital and existing investor East Ventures also participated.