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

  • February 11, 2019
    ITS European Congress 2020 to be hosted by Lisbon
    ITS European Congress 2020 is to take place in Lisbon, bringing together international mobility stakeholders next year in the Portuguese capital. Organised by Ertico – ITS Europe, the Congress will be themed 'ITS - The Game Changer’ and is an opportunity to display Lisbon's latest achievements in the field of intelligent mobility services. The memorandum of understanding was signed by Ertico CEO Jacob Bangsgaard, Rui Camolino, president of ITS Portugal, and Miguel Gaspar, mobility councillor for Lisb
    Read More
  • October 16, 2019
    Dyson scraps EV project
    British technology company Dyson has pulled out of a project to build electric vehicles (EVs), saying it is unable to make its car “commercially viable”. Chief executive Sir James Dyson said in a statement: “We have been through a serious process to find a buyer for the project which has, unfortunately, been unsuccessful so far.” The company, known primarily for its vacuum cleaners, says it will continue its £2.5 billion investment programme into new technology in two UK locations and in Singapore. It wil
    Read More
  • March 14, 2019
    Las Vegas approves Elon Musk tunnel plan
    Hot on the heels of a similar plan in Los Angeles, serial entrepreneur Elon Musk has been given the green light to build underground ‘express-route’ tunnels in Las Vegas, US. The decision by the Las Vegas Convention and Visitors Authority (LVCVA) will allow Musk’s The Boring Company (TBC) to construct and operate a people mover for the Las Vegas Convention Center. The service, expected to cost $35-$55 million, will operate via a loop of tunnels that could carry up to 11,000 passengers per hour in autono
    Read More
  • October 24, 2014
    ITS America declare Detroit as success
    ITS America, organisers of the 2014 ITS World Congress in Detroit, has declared the event a great success with more than 9,100 participants, 700 papers and 300 exhibiters plus the most extensive set of demonstrations ever staged. The introduction of Chief Technology Officer sessions was considered a big success attracting almost 800 attendees.
    Read More

Highlighted Content