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

  • October 23, 2012
    TRL and TomTom announce partnership on Congestion Index
    TRL and TomTom have announced here at the ITS World Congress that they have launched a new partnership to offer more detailed analyses of the results published in TomTom’s quarterly Congestion Index which covers major metropolitan areas in Europe and North America. The partners say the collaboration will see the Congestion Index being put to practical use in solving local congestion issues. TRL traffic consultants are able to work with detailed TomTom data to produce customised analysis which meets the need
    Read More
  • December 11, 2018
    Populus and Lime enter vehicle data partnership in Seattle
    A partnership between data and car-share providers has been formed in the US city of Seattle to help improve parking utilisation. Data solutions company Populus will receive real-time GPS data from Lime’s free-floating car-share fleet, LimePod, which launched last month in the city. The Populus platform will then deliver reports to the Seattle Department of Transportation in a bid to evaluate the use of curb space and develop parking strategies that will help reduce vehicle ownership. Populus says its
    Read More
  • January 15, 2016
    Wireless dynamic charging for fully electric vehicles: challenges and concepts
    The 25 partners of the FABRIC project have organised a one-day conference highlighting the different aspects of FEV (fully electric vehicle) dynamic charging. Taking place at the Ertico offices in Brussels, the conference will discuss the concept of wireless charging technology for road vehicles and its potential to facilitate a shift from petrol and diesel to electric vehicles.
    Read More
  • February 13, 2015
    Copenhagen light rail JV appointed
    Copenhagen metro operator Metroselkabet has appointed Arup as part of a joint venture with Rambøll to develop the light rail on ring 3 for greater Copenhagen. The new light rail system includes a double track alignment of 27 kilometres and 27 stations with a rolling stock fleet of 27 light rail vehicles. This major project was planned to promote the use of public transport as well as encourage the urban development along the route and the passage across the city to avoid interchanging in the centre.
    Read More

Highlighted Content