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 17, 2018
    Q-Free withdraws from ERP tender process in Indonesia
    Tolling specialist Q-Free has withdrawn from a tender process for an electronic road pricing (ERP) system in Jakarta, Indonesia, due to uncertainty on the tender timeline and outcome. This withdrawal decision is also based on uncertainty regarding project structure and financing and expected project profitability. The company says it intends to increase recurring revenues and reduce its reliance on single large projects, and will be more selective when it comes to which contracts it pursues. The
    Read More
  • August 20, 2014
    Enhanced WISETRIP final event
    The Enhanced WISETRIP final event, which takes place in Brussels on 29 August, will provide an opportunity to showcase the achievements of the Enhanced WISETRIP project and contribute to the debate on priorities for delivering EU-wide multi-modal travel information. Enhanced WISETRIP has developed a unified intermodal planner for international journeys which incorporates functions for planning, booking and travelling multimodal journeys adapted to user needs including multiple trip criteria, environment
    Read More
  • January 30, 2019
    Boeing autonomous air vehicle completes first flight in Virginia
    Boeing has completed a test flight of its autonomous passenger air vehicle (PAV) prototype in the US. The electric vertical takeoff and landing aircraft was developed through a collaboration between Boeing subsidiary companies Boeing NeXt and Aurora Flight Services. Boeing NeXt works with regulatory agencies and industry partners to help introduce new mobility modes and ensure autonomous and piloted air vehicles safely coexist. Steve Nordlund, vice president and general manager of Boeing NeXt, sa
    Read More
  • February 5, 2016
    ITS European congress – successful call for papers
    The Call for Papers for the 2016 TS European Congress that has been very successful, say the organisers, with over 300 papers and more than 60 special interest session proposals around the five main topics. For those planning to exhibit or visit the congress, the organising team has arranged a special open day on 17 February to provide more information on the exhibition facilities, opportunities for sponsors and exhibitors and the congress format.
    Read More

Highlighted Content