Grab lands $150M for Yamaha Motor to double down on motorbike on-demand services

TechCrunch | 12/13/2018 | Staff
Click For Photo: https://techcrunch.com/wp-content/uploads/2018/12/GrabBike-3.jpg?w=750

Grab, the Southeast Asia ride-hailing firm that bought out Uber’s local business, has added another investor to its rolling cast of backers after it added $150 million from Yamaha Motor to its ongoing Series H round.

That round is targeted at $3 billion, and Yamaha Motor joins an investor group in the round that includes strategics like Toyota ($1 billion), Hyundai ($250 million), Microsoft (undisclosed), Thai bank Kasikorn ($50 million) and travel firm Booking ($200 million). A host of more institutional investors like OppenheimerFunds, Ping An Capital, Mirae Asset — Naver Asia Growth Fund also took part.

Deal - Weeks - Yamaha - Motor - Drivezy

The deal comes just weeks after Yamaha Motor backed India-based Drivezy, a service for self-renting cars and motorbikes.

The deal means Grab has brought on four automotive firms in the round, although Yamaha Motor is focused on motorbikes. Indeed, Grab said it intends to collaborate with the bike-maker on Indonesia, Southeast Asia’s largest economy and the world’s fourth most populous country with 260 million people, where it is in a dogfight with rival Go-Jek...
(Excerpt) Read more at: TechCrunch
Wake Up To Breaking News!
Sign In or Register to comment.

Welcome to Long Room!

Where The World Finds Its News!