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.

Urban Traffic Control

For more information on companies in this article

Related Content

  • Renault and Waymo explore AV service in Paris
    November 14, 2019
    Renault and Waymo are hoping to establish an autonomous mobility service between Roissy-Charles de Gaulle Airport and La Défense, a business district in France’s capital Paris. Valérie Pécresse, president of the Paris region, says the service could “play a key role for the mobility of Île-de-France inhabitants, tourists and therefore for the international attractiveness of our region, which is investing €100 million to develop the infrastructure on which autonomous vehicles will operate.” Both partie
    Read More
  • Voi launches electric scooters in Lisbon
    December 13, 2018
    Swedish company Voi has launched its electric scooters in Lisbon as part of a wider ambition to expand in Europe. In addition to Portugal, the company says it plans to bring its e-scooters to Italy and France over the coming months. Frederico Venâncio, general manager of Voi Portugal, says Voi riders in Sweden have travelled more than 450,000km in Stockholm, and the company expects to see similar growth in Portugal. “Although we want to expand rapidly, we want to do it in a sustainable way and in line
    Read More
  • ITS World Congress preliminary programme now online
    June 16, 2015
    The preliminary programme of the 22nd ITS World Congress is now available online, with details of all sessions, speakers, social and associated events, as well as the 30-plus demonstr4ations which have been planned for the congress in Bordeaux.
    Read More
  • ISS and CitySync showcase ANPR solutions at World Congress
    September 26, 2012
    ISS Europe and CitySync, specialists in detection and ANPR solutions for the ITS market, will use the ITS World Congress to showcase the Jet-Aludra which incorporates an IR ANPR camera, colour overview camera and an on-board processor. This cost effective Intelligent ANPR camera processes images at the time of capture, so smaller packets of information can be transferred via wireless 3G or wired connections to a central server for review or directly to a police back office facility, matching against hotlist
    Read More

Highlighted Content