Home News Startups, Entrepreneurs, Digital economy

Grab raises US$150 mil from Yamaha

Bloomberg
Bloomberg12/14/2018 08:01 AM GMT+08  • 2 min read
Grab raises US$150 mil from Yamaha
SINGAPORE (Dec 17): Grab is attracting more global backers after the ride-hailing service defeated Uber Technologies Inc. in Southeast Asia. A motorcycle maker has become the latest investor.
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

SINGAPORE (Dec 17): Grab is attracting more global backers after the ride-hailing service defeated Uber Technologies Inc. in Southeast Asia. A motorcycle maker has become the latest investor.

Yamaha Motor Co. agreed to invest US$150 million ($205.7 million) in Grab and the two will collaborate on motorcycle-ride services in Southeast Asia with a focus on Indonesia, the Japanese manufacturer said in a statement Thursday.

Singapore-based Grab is teaming up with global giants to expand its reach after forcing Uber out of Southeast Asia earlier this year. Toyota Motor Corp. said in June it was investing US$1 billion in Grab, and Hyundai Motor Co. last month agreed to put an additional US$250 million into the company and sell a fleet of electric vehicles to the ride-hailing service. Carmakers and technology companies alike are working toward a future where autonomous robo-taxis will lessen the need for individual car ownership.

×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.