Grab, the Singapore-based ride-hailing company that’s a main competitor to Uber in Southeast Asia, is in the process of raising more than $1.5 billion in a round led by Japanese tech conglomerate SoftBank (TKO: 9984), according to a Bloomberg report. The company previously secured a $750 million investment in September, valuing it at about $3 billion and bringing Grab’s total raised to more than $1.4 billion.
News of the funding comes about a month after Ola, a ride-hailing startup based in India, raised $330 million in another round that included funding from SoftBank. With that financing, Ola’s valuation dropped to an estimated $3.5 billion from a peak of about $5 billion, a dip likely fueled in part by Uber stepping up investment in its own Indian business.
The first London Value Investor Conference was held in April 2012 and it has since grown to become the largest gathering of Value Investors in Europe, bringing together some of the best investors every year. At this year’s conference, held on May 19th, Simon Brewer, the former CIO of Morgan Stanley and Senior Adviser to Read More
As for SoftBank, the news comes hot on the heels of last week’s $300 million investment in office co-working company WeWork. While those funds and this Grab investment will likely come from SoftBank itself, future investments may be disbursed via its new $100 billion Vision Fund.
Article by PitchBook