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SoftBank Invests $2 Billion in Southeast Asian Ride-hailing Firm Grab

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Moupiya Dutta
Moupiya Dutta
She finds it interesting to learn and analyze society. she keeps herself updated, emphasizing technology, social media, and science. She loves to pen down her thoughts, interested in music, art, and exploration around the globe.

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.

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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.

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