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

  • April 2, 2019
    Bolt launches dockless e-scooters in Madrid
    Bolt, the ride-share company which was formerly called Taxify, has launched electric kick scooters in central Madrid. The firm piloted the vehicles in Paris last year – making it the first to combine scooter sharing and ride-hailing together in one mobile app, Bolt claims. “Beating the traffic is a big issue in cities like Madrid and a lot of trips are much more efficiently covered with an electric scooter rather than a car with a driver,” says Markus Villig, CEO and co-founder of Bolt. He says the dep
    Read More
  • March 12, 2015
    Survey finds speed, red light cameras divide Americans
    A new survey from free legal information website FindLaw.com found that 52 per cent of Americans support the use of radar speed cameras, while 48 per cent oppose them. Advocates say the cameras increase safety, but opponents contend they are often little more than revenue grabs by communities seeking to fill their local coffers. Interestingly, there is a split between men and women on the issue – a majority of women support the use of speed cameras while a majority of men oppose it. Ohio recently adopted a
    Read More
  • January 9, 2019
    Keolis Shanghai opens first section of Songjiang tram line
    Keolis Shanghai, a joint venture with Shanghai Shentong Metro, has opened the first section of the Songjiang tram line, offering connections to Shanghai Metro Line 6. The first phase is expected to transport 170,00 passengers per day. The 13.9km route runs across Songjiang, a suburban district, and includes 20 stations from Canghua Rd station in the west to Zhongchen Rd station in the east which serves residential areas and universities. The service is being operated with 15 Citadis trams manufacture
    Read More
  • October 8, 2013
    Europe's senior execs converge for connected car forum
    Telematics Munich 2013, Europe's largest and most influential business conference and exhibition for the connected car industry, will host twelve hours of networking sessions across two days, 11 and 12 November. The official agenda is the result of six months of independent research, reflecting the latest trends, market activities and exciting growth in the European connected car space.
    Read More

Highlighted Content