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 20, 2016
    Last call for Gulf Traffic award nominations
    Time is running out to submit nominations for the 2016 Gulf Traffic awards, which honour those companies and persons who have shown their commitment to developing and improving projects, initiatives or products for the benefit of the public and the region. Categories include: best new parking produce or supplier; ITS product of the year; consultancy of the year; contractor of the year; TRL student award; product innovation award; and many others. Submit nominations before 25 September 2016. More infor
    Read More
  • April 30, 2018
    VW goes electric in China
    Volkswagen will invest €15bn in electric and autonomous vehicles (AVs) in China by 2022, according to a report by Euractiv.com. Herbert Diess, the German carmaker’s chief executive, claimed at a press conference in Beijing that the money would make mobility cleaner, safer and more intelligent to help improve people's lives.
    Read More
  • November 2, 2018
    Waymo gets California green light for public driverless tests
    Waymo has been granted a licence to test fully-driverless cars on public roads in California. It is the first company to be given the green light for such trials in the state – and it means there will be no test driver sitting in the driver’s seat. The permit includes day and night testing on city streets, rural roads and highways with speed limits of up to 65mph. Waymo insists: “Our vehicles can safely handle fog and light rain, and testing in those conditions is included in our permit. We will gradual
    Read More
  • January 17, 2014
    10th ITS European Congress app development contest
    ITS Finland, host of the 10th ITS European Congress, has launched the ‘ITS in your pocket’ app development competition, providing an opportunity for companies, teams and individuals to compete for a total prize sum of €100,000 (US$136,000). Apps should provide solutions to improve transport safety, efficiency and sustainability, make transport systems more comfortable and should focus on the user needs.
    Read More

Highlighted Content