30 Aug '17, 8am

Toyota invests in Grab’s latest RM10.7b funding round https://t.co/r9zKtpVgon

Toyota invests in Grab’s latest RM10.7b funding round https://t.co/r9zKtpVgon

Toyota, via its trading arm Toyota Tsusho Corp, is the latest participant in ride-hailing firm Grab’s current financing round that is expected to raise US$2.5 billion (RM10.67 billion). The funding round was led by existing backers Chinese ride-hailing peer Didi Chuxing and Japan’s SoftBank. Toyota Tsusho Corp invested an undisclosed sum in Grab, the companies said in separate statements today, reported by Reuters . Last month, Grab said that Didi and Softbank would add $2 billion and that $500 million would come from other sources, making it South-East Asia’s biggest-ever single round of financing. It is believed that this $2.5 billion fund raising would value the Singapore-based company founded by Anthony Tan and Tan Hooi Ling (pictured above) at $6 billion. Toyota said it would install driving recorder devices in vehicles operated by Grab. Under a pilot program, Toyota ...

Full article: https://paultan.org/2017/08/30/toyota-invests-in-grabs-la...

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