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

  • January 25, 2019
    Rapidly-changing mobility environment is challenging policymakers, says UK DfT
    Policy makers are working hard to make sense of a rapidly-changing mobility environment, according to a senior official from the UK’s Department for Transport (DfT). Ella Taylor, DfT’s head, future of mobility, Centre for Connected and Autonomous Vehicles (C/AV), says the pace of development in transportation modes, such as e-scooters (not currently allowed in the UK) and e-bikes (which are), presents difficulties for governments trying to create standards and laws. “Across the globe, different modes
    Read More
  • June 29, 2018
    Ministry of Transport denies GrabVietnam’s expansion plan
    Vietnam’s Ministry of Transport has rejected a proposal from GrabVietnam to extend its ride-hailing service into the country’s southern and central highland provinces. The company is required to cancel its launch in the provinces of Ninh Thuan, Dong Thap and Gia Lai. Additionally, Grab is prohibited from working with taxi drivers without the approval of transport operators and transport departments. According to a report by The Saigon Times, the ministry says the application of technology to make c
    Read More
  • August 19, 2015
    ITS World Congress – programme highlights webinar and executive sessions
    Ertico-ITS has arranged a programme highlights webinar to give participants an overview of the sessions, speakers, events and activities organised for the ITS World Congress in Bordeaux. On Wednesday 4 September at 1300 CEST, senior Congress Programme advisor Eric Sampson and director of Congresses Didier Gorteman will walk you through this year’s exciting programme by highlighting some of the most engaging sessions and events of the week.
    Read More
  • May 21, 2012
    Flir and Traficon track cyclists
    Flir has teamed up with Traficon to develop automatic detection for cyclists using thermal imaging. The two companies have jointly developed a thermal video solution that meets all federal and state guidelines for tracking cyclists throughout the approach to an intersection.
    Read More

Highlighted Content