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 8, 2019
    Scania to deploy more than 700 gas buses to Bogotá
    Scania is to deliver 741 Euro 6 gas buses to Bogotá, Colombia, in a deal which is expected to reduce carbon emissions by up 20%. This deployment serves as an extension to an initial order placed by TransMilenio for the procurement of 481 Euro 6 gas buses and is part of the city’s bus rapid transit (BRT) renewal programme. Masivo Bogotá will operate the 260 bi-articulated Scania F340 HA 8x2 buses across 18 stations on the Américas BRT line. Carlos Ocampo, Scania Colombia's managing director, says:
    Read More
  • September 11, 2017
    Eastlink launches self-driving survey, Australia
    Toll route operator Eastlink, with support from Australian Road Research Board, has launched the first of an annual Victorian self-driving vehicle survey for Victorian motorists’ attitudes to and perceptions of self-driving vehicles, to be completed 8 October 2017. The first major survey is aimed at motorists, irrespective of whether they use Eastlink and will be repeated annually to track changes into the future
    Read More
  • March 28, 2018
    Uber suspended from resuming Arizona self-driving tests
    Arizona’s state governor Doug Ducey has ordered officials to suspend Uber’s right to test autonomous vehicles on local roads pending the outcome of inquiries by national transport safety regulations – in a report from the BBC. It follows a letter that Ducey sent to the car-hailing company in which he stated that there had been an unquestionable failure to make safety the top priority.
    Read More
  • April 18, 2016
    Registration now open for 2016 ITS World Congress
    Registration is now open for the five-day 23rd ITS World Congress, to be held at the Melbourne Convention and Exhibition Centre in Australia from 10-14 October 2016. More than 7,000 international delegates are expected to attend the Congress, hosted by ITS Australia, on behalf of ITS Asia Pacific, Ertico and ITS America, the Congress theme is ITS - Enhancing Liveable Cities and Communities. The Congress will include Plenary and keynote speakers, special interest sessions and more than 300 exhibitors.
    Read More

Highlighted Content