The tyre-maker, PT Goodyear Indonesia Tbk (IDX: GDYR), an affiliated of Goodyear Ventures, has invested in Starship Technologies, a global provider of autonomous shipping services with an investment of US$17 million - Photo by the Company

JAKARTA (TheInsiderStories) Goodyear Ventures, an affiliated firm of tyre-maker, PT Goodyear Indonesia Tbk (IDX: GDYR), has invested in Starship Technologies, a global provider of autonomous shipping services with an investment of US$17 million. The company made joint investments with TDK Ventures, Ambient Sound Investments ,and a number of other investors.

Starship Technologies builds and operates a network of self-driving, electrically driven delivery robots that can carry and deliver packages, groceries and food within a four mile radius, easily via a mobile app. Starship recently set a record with one million autonomous shipments, making it the first autonomous delivery company in the world to do so.

Goodyear‘ trusted service footprint combined with customized solutions for autonomous vehicle companies is a solid platform to support Starship in the marketplace,” said the senior manager of Goodyear Ventures, Abhijit Ganguly, in an official statement released on Thursday (02/04).

Launched in 2014 by Skype founders Ahti Heinla and Janus Friis, Starship Technologies currently operates in several cities around the world. Their business headquarters are in San Francisco, United States, with a main engineering office in Estonia.

Last year, Ohio-based tyremaker Goodyear Tire & Rubber Co., launched a $100 million venture capital fund for new investments in future mobility solutions over the next 10 years. According to the Chairman, CEO and president, Richard J Kramer, Goodyear Ventures will take this effort to the next level to engage and shape how people move in the future.

Goodyear is one of the largest tire companies in the world. Goodyear produces tires at 46 plants in 21 countries and Starship is a technology company that combines mobile technology, autonomous robots to make local delivery faster, smarter and more cost-effective.

In Indonesia, its affiliated plans to add more outlets and widen distribution channels around the archipelago after suffered by the pandemic during 2020. In the third quarter of 2020, the tyre producer net sales fell 27.40 percent to $74.93 million and booked a net loss of $4.31 million from a year ago.

The domestic sales also fell 29.18 percent to $42.90 million by the end of the third quarter similar with export sales down 24.86 percent to $32.03 million. The issuer decided to stay focused on selling tires in the domestic market and still trying to maintain its tire products for the middle segment cars and looking an overseas market.

Written by Editorial Staff, Email: theinsiderstories@gmail.com