Grab secures $300m to expand presence in South-east Asia

Grab has received $300 million to further accelerate its expansion in South-east Asia. Justin Leverenz, senior portfolio manager at Invesco – the company which has put up the cash - says the investment will support Grab in its “bringing more everyday services, greater accessibility and convenience to users in South-east Asia”. Earlier this year, Grab began working with property developer Sinar Mas Land to deploy electric scooters in Indonesia and to help strengthen BSD (Bumi Serpong Damai) city’s posi
July 9, 2019 Read time: 1 min

Grab has received $300 million to further accelerate its expansion in South-east Asia.

Justin Leverenz, senior portfolio manager at Invesco – the company which has put up the cash - says the investment will support Grab in its “bringing more everyday services, greater accessibility and convenience to users in South-east Asia”.

Earlier this year, Grab began working with property developer Sinar Mas Land to deploy %$Linker: 2 External <?xml version="1.0" encoding="utf-16"?><dictionary /> 0 0 0 link-external electric scooters false https://www.itsinternational.com/categories/utc/news/grab-launches-e-scooter-service-in-indonesia/ false false%>in Indonesia and to help strengthen BSD (Bumi Serpong Damai) city’s %$Linker: 2 External <?xml version="1.0" encoding="utf-16"?><dictionary /> 0 0 0 link-external position false https://www.itsinternational.com/categories/utc/news/grab-enters-smart-city-agreement-with-sinar-mas-land-in-indonesia/ false false%> as an integrated smart digital city.

Last June, 1686 Toyota%$Linker: 2 External <?xml version="1.0" encoding="utf-16"?><dictionary /> 0 0 0 link-external invested false https://www.itsinternational.com/categories/utc/news/toyota-puts-1bn-into-ride-hailing-service-grab/ false false%> $1bn in Grab to collaborate on connected cars and to promote the adoption of new mobility solutions across South-east Asia.

UTC

Related Content

  • December 21, 2018
    Lyft establishes dedicated pick-up zone at Toronto shopping centre
    Lyft has established a dedicated zone at the west exit of the Cadillac Fairview Toronto Eaton Shopping Centre to help visitors get to and from the venue. Riders can then use Lyft’s app to choose specific pick-up and drop-off points around the shopping centre’s offices, shops and restaurants. The partnership says it will gather feedback and adapt the service to meet the needs of riders. Last month, Lyft entered an agreement with the Regional Transportation Commission of South Nevada to offer cheaper ride
    Read More
  • November 9, 2018
    Ola brings ride-sharing service to three cities in New Zealand
    Indian ride-sharing firm Ola has expanded its service to three cities in New Zealand and is offering passengers 50% discounts off journeys for the first month. The company says its app comes with safety features which will allow riders in Auckland, Wellington and Christchurch to share location coordinates with friends, family and emergency services. Passengers can also be picked up from Auckland and Wellington airports. Ola says it intends to improve the app based on customer feedback. It can be downl
    Read More
  • January 31, 2019
    Austria issues highest fines for violation of diesel bans, says study
    Austria imposes the highest fines in Europe for violating diesel bans and low-emission zones, according to new research. Austrian authorities charge up to €2,180 for violators – the next highest is the UK, with fines up to £1,138. Auto parts company Kfzteile24 based its findings on data from UrbanAccessRegulations.eu and its map offers a comparison between 350 cities across Europe. The overview outlines examples of vehicles already affected by low-emission zones and driving diesel bans - and those likel
    Read More
  • November 8, 2018
    PSC Solar to implement EV chargers in Africa
    PSC Solar, the research and development subsidiary of PSC Industries, will deploy electric vehicle (EV) chargers across four African nations, according to media reports. Chargers will be installed in Nigeria, Ghana, Niger and Benin in preparation for the arrival of EVs. Patrick Owelle, CEO of the PSC Solar, says governments all over the world are starting to ban diesel and petrol engines due to climate change and pollution and that Africa must also take a position on the issue. He says PSC’s charg
    Read More

Highlighted Content