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

  • December 17, 2018
    Uber introduces bus service in Egypt
    Uber has launched its Uber Bus service in Egypt as part of a strategy to provide commuters living in Cairo with an affordable transportation option. The service can be accessed via Uber’s standard app. Uber groups passengers travelling in the same direction to make the service more affordable and reduce the number of stops per trip. Dara Khosrowshahi, Uber CEO, says: “We are committed to broadening access to the Uber platform with a range of low-cost options that will move more people around town an
    Read More
  • July 3, 2019
    Bolt expands ride-hailing service in Kenya
    Bolt is to expand its ride-hailing service to three additional urban centres in Kenya, according to a report by Capital FM Kenya. Ola Akinnusi, the Bolt country manager in Kenya, says: “After Nairobi and Mombasa cities, it was natural that Bolt would gradually expand across the country. We now intend to build new communities in Kisumu, Kakamega and Thika as we continue to gain the trust of the Kenyan people.” According to Akinnusi, the company has provided safety features such as ‘Share your ETA’ which al
    Read More
  • August 26, 2016
    Used EV batteries to transform stationary storage
    According to a report (link http://about.bnef.com/landing-pages/new-life-used-ev-batteries-stationary-storage/.) by Bloomberg New Energy Finance (BNEF), the electric vehicle market is set to grow quickly, but so far there has been no consensus on a ‘second-life’ for the many used EV batteries. In this report, senior analyst Claire Curry has compiled the first data and shows that low-cost energy storage could be here sooner than previously thought. She projects that there will be 29 GWh of used EV batter
    Read More
  • June 13, 2019
    Delhi uses waste-to-energy to power metro line
    Delhi Metro Rail Corporation (DMRC) has announced it is receiving power generated from a waste-to-energy plant to operate the Pink Line metro service in the Indian capital. DMRC says it is currently receiving 2 megawatts (MW) of power from East Delhi Waste Processing Company’s (EDWPCL) 12 MW capacity plant located in the town of Ghazipur. EDWPCL’s waste-to-energy plant was realised from an agreement with the government of Delhi and the East Delhi Municipal Corporation. The facility is expected to pro
    Read More

Highlighted Content