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

  • September 23, 2019
    MTC approves e-tolling upgrade for Bay Area bridges
    The Metropolitan Transportation Commission (MTC) intends to replace cash lanes with the electronic FasTrak tolling system at seven bridges in the San Francisco Bay Area. A report by Fox 2 KTVU says the MTC is hoping the $4 million upgrade will speed up traffic flow and save money on operations on the following bridges: Carquinez, Antioch, Benicia, Richmond-San Rafael, San Francisco-Oakland Bay, San Mateo and Dumbarton. For drivers without a FasTrak system, cameras will capture the number plates of their v
    Read More
  • November 25, 2019
    MaaS Alliance joins Global New Mobility Coalition
    MaaS Alliance has joined The Global New Mobility Coalition (GNMC), a community of more than 100 institutions which aim to reduce carbon dioxide emissions by 95%. The GNMC also seeks to improve transport efficiency by 70% and reduce mobility costs by 40%. As part of the deal, MaaS Alliance is to share knowledge with the GNMC alongside other organisations such as C40, Polis and ITF. MaaS Alliance is a non-profit organisation which seeks to establish a common approach to Mobility as a Service. It entered i
    Read More
  • March 19, 2018
    Irdeto and Conjure promote Keystone vehicle access solution
    Irdeto and Conjure are using Intertraffic to present what they claim is the most secure, policy-based vehicle access and safety solution in the connected transport industry. Using a mobile device with a companion application, the solution eliminates the need for physical keys to a car while also providing car and fleet owners with the ability to securely and intuitively provision and manage a host of new car sharing/car riding experiences. Keystone combines secure, tamper-proof policy management that
    Read More
  • February 28, 2014
    Compass4D workshop
    The next Compass4D combined workshop and showcase event on the real deployment of ITS takes place at the Automotive Campus in Helmond in the Netherlands on 4 April. The workshop will discuss the actions needed to deploy ITS: What cities should do and what they expect from the industry; The role of European, national and local authorities; and the appropriate business models to guarantee a successful C-ITS deployment. The workshop will also show some of the ITS services for safer and cleaner transport in
    Read More

Highlighted Content