SE Asia’s Grab closes $2b funding round, doubles down on Indonesia

A Grab bike rider is seen during rush hour traffic in Jakarta, Indonesia, July 18, 2016. REUTERS/Iqro Rinaldi

Southeast Asia’s ride-hailing major Grab has announced another round of major funding, raising $2 billion this time, it said in a statement today.

Besides Toyota Motor Corporation which pumped in $1 billion recently, other investors in the latest round include OppenheimerFunds, Ping An Capital, Mirae Asset’s Naver Asia Growth Fund, Cinda Sino-Rock Investment Management Company, All-Stars Investment, Vulcan Capital, Lightspeed Venture Partners, Macquarie Capital and others.

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