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

  • September 10, 2014
    ITS Australia launches Asia Pacific Student Scholarship program
    The 2014 World Congress in Detroit provided the ideal venue to launch the ITS Australia Asia Pacific Student Excellence Scholarship program. The program offers sponsorships to up to 10 students representing ITS Asia Pacific associations to attend the 23rd ITS World Congress 2016 in Melbourne, Australia. ITS Australia CEO, Susan Harris, says: “ITS Australia created this Scholarship Program to support and encourage student participation, not just attendance, at the Congress, and to recognise student exc
    Read More
  • June 8, 2015
    ITS World Congress preliminary programme and registration now online
    The preliminary programme of the 22nd ITS World Congress is now available online. In addition to the opening and closing ceremonies and three Plenary Sessions, highlights of this year’s event include the Ministerial Roundtable, two high-level technology summits, three general public sessions and a public afternoon open to all. Download the programme for details of the interactive timetable, sessions, speakers, social and associated events and the more than 20 demonstrations that are planned during the Co
    Read More
  • May 22, 2015
    Register now for 2nd European SUMP Conference
    The second European Conference on Sustainable Urban Mobility Plans (SUMP) takes place in Bucharest, Romania, at Politehnica University of Bucharest on 16 and 27 June 12015. It is the principal annual event for the international community of practitioners, policy makers and academics from across Europe to come together to debate key issues, highlight developments in mobility planning and exchange ideas and experience. Under the overall theme of the conference, ‘Sustainable mobility for everyone’, nine
    Read More
  • January 17, 2019
    Ojo Electric develops sit-down e-scooter for commuters in Texas
    Ojo Electric has launched an electric scooter which comes with a seat to serve as part of a ride-share service in Austin, Texas. The deployment stems from an agreement with Austin Commuter Scooter (ACS), a subsidiary of Bike Share of Austin. Elliott McFadden, executive director of Bike Share of Austin, says the service will link to public transportation needs while reducing carbon emissions and congestion. Ojo and ACS will share data on usage and ride trends through the scooter’s on-board telemetr
    Read More

Highlighted Content