The Japanese conglomerate SoftBank will invest $2 billion in ride-hailing giant Grab to create a next-generation transportation network to transform healthcare services.
SoftBank will invest the US$2 billion into the country through Grab, to drive the digitization of crucial services and infrastructure – Singapore-headquartered Grab
The considerable Softbank investment will also help Grab build a second headquarters in the Indonesian capital of Jakarta, said SoftBank Chief Executive Masayoshi Son to reporters. Back in March, SoftBank has invested nearly $1.5 billion through its Vision Fund to extend a fundraising drive that is ongoing since last year.
The investment was also made by top carmakers like Toyota, Hyundai Motor, China’s Ping An Capital, tech giant Microsoft, and U.S.-based asset management company OppenheimerFunds.
The company claims to secure $300 million from investment management company Invesco and plans to raise around $6.5 billion by the end of this year. It had started as a ride-hailing service but later introduced food and grocery delivery, mobile payment, and many more in Southeast Asia.
