Grab

Asian tech giants invest $2.5 billion in taxi-hailing service Grab

Asian tech giants invest $2.5 billion in taxi-hailing service Grab

Uber’s South East Asian competitor Grab has raised $2 billion (£1.5bn) from Japanese technology giant Softbank and its China-based equivalent Didi Chuxing.

Grab is expected to raise an additional amount of $500 million (£385m) from some other tech investors before the ongoing round of funding is closed, which would bring the total investment amount for the round to $2.5 billion (£1.9bn).

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