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

  • July 29, 2019
    China’s Yin Long to produce e-buses in Serbia
    Chinese bus manufacturer Yin Long intends to produce electric buses at Ikarbus’ factory in Serbia by the end of the year, according to a report by SeeNews. Yin Long acquired Ikarbus through its subsidiary Lanzhou Guangdong New Energy Automobile, and intends to hire 200 employees at the factory and use it as a hub to expand its business. The factory is in the city of Belgrade. Ikarbus produces low-floor and articulated city buses as well as intercity buses.
    Read More
  • February 1, 2019
    ID Tech and IIT Ropar explore IoT and RFID applications for smart cities in India
    Developing smarter cities in India is the goal of a tie-up between smart card company ID Tech and the Institute of Technology (ITT) Ropar, an academic institution in the northern India state of Punjab. ITT Ropar, which specialises in engineering, science and technology, will join ID Tech in looking at how Internet of Things (IoT) and radio frequency identification (RFID) can help. ID Tech director Saurav Khemani says: “We aim to address social challenges posed by rapid urbanisation and economic develo
    Read More
  • June 15, 2016
    TRB launches transformational technologies in transportation website
    The Transportation Research Board (TRB) is demonstrating its new website on transformational technologies in transportation at ITS America San Jose this week. The website includes resources about ongoing research, publications, news and events. Technologies covered include connected and automated vehicles, shared use services; unmanned aerial systems (drones); nextgen, internet of things, smarts cities; big data; and cybersecurity. Attendees can check out the new site at www.TRB.org/ main/TransTech.aspx or
    Read More
  • December 6, 2018
    Tamron partners with Macq
    Lens manufacturer Tamron and visions system integrator Macq have signed a deal to produce a new camera. Tamron is providing the lens, while Belgium-based Macq is providing the housing and the electronics boards – and will sell the camera as its own product. Powered by artificial intelligence, the traffic sensor can be used for all kinds of applications, Macq says. These include: traffic monitoring, automatic make and model recognition, speed control, parking and automatic number plate recognition.
    Read More

Highlighted Content