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

  • August 10, 2016
    Test
    %$Linker: 2 Internal <?xml version="1.0" encoding="utf-16"?><dictionary /> 4 9782 0 oLinkInternal <span class="oLinkInternal"><span class="oLinkInternal">RSS</span></span> Events (Diary)
    Read More
  • April 17, 2019
    Volkswagen tests Level 4 AVs in Hamburg
    Volkswagen Research is testing autonomous vehicles (AVs) at SAE Level 4 in real driving conditions in the German city of Hamburg. The announcement comes as the fall-out from VW’s ‘Dieselgate’ nightmare – when the company was found to have programmed turbocharged direct injection diesel engines to activate their emissions controls for laboratory tests - putters on. This week the company’s former chief executive Martin Winterkorn was charged with fraud for his involvement. But VW has admitted that the scan
    Read More
  • September 26, 2017
    Demonstrations confirmed for ITS World Congress Montreal 2017
    More than 25 companies and Universities are lined up to present the latest technologies in advanced mobility at ITS World Congress Montreal 2017. These will include real-time link with TMCs across Canada for virtual TMC demonstration; a data- and vision-based approach to connected traffic light implementation and predictive technology; V2X safety applications and; the safety benefits of live video at busy intersections. Participants will also be able to experience real-time space detection technology wit
    Read More
  • August 10, 2017
    Colorado DOT and partners to unveil self-driving work zone vehicle
    US manufacturer of TMA (truck mounted attenuator) trucks Royal Truck & Equipment is to unveil the Colorado Department of Transportation (CDOT) autonomous attenuator truck, along with partners at Colas UK, and Micro Systems. This work zone vehicle has been designed to revolutionise safety for roadway maintenance crews. Usually positioned behind road construction crews in order to protect workers from the travelling public, the Autonomous Impact Protection Vehicle (AIPV) is a self-driving TMA truck that incre
    Read More

Highlighted Content