GrabTaxi announces US$15 million Series B funding

  • New funds for competitive expansion plans and social projects geared toward improving the welfare of taxi drivers in SEA
  • GGV dealing with partner Jixun Foo to sign up for board of administrators

GrabTaxi announces US$15 million Series B fundingGRABTAXI (known as MyTeksi in Malaysia) has introduced it has raised greater than US$15 million in Series B funding, led with the aid of Silicon Valley-based totally GGV Capital with participation from new investor Qunar and Vertex Venture Holdings.
 
GGV Capital is a US$2.2 billion multi-level project capital corporation, based in Silicon Valley and Shanghai. Some of its key portfolio agencies consist of famous organizations together with Alibaba Group, Square, Flipboard, SoundCloud and YY.
 
Baidu-owned Qunar is a search-based totally ecommerce platform for the journey industry in China, based in May 2005 and founded in Beijing.
 
“We are honoured to be included in GGV Capital’s portfolio of agencies alongside with worldwide names such as Alibaba Group, Square and Flipboard. We are also thankful to Vertex Venture for his or her persevered support and self belief by way of re-investing in GrabTaxi.
 
“This funding will power GrabTaxi nearer closer to their ultimate aim of converting the manner six hundred million human beings flow in South-East Asia,” said founder and institution leader government officer Anthony Tan, in a assertion issued.
 
The new finances will be used to assist plans to aggressively develop into new towns in South-East Asia and make bigger its marketplace dominance thru regional driving force loyalty and retention programmes. It may also be used for social initiatives geared toward improving the welfare of taxi drivers whilst constructing loyalty and retention, a good way to be rolled out in ranges in the subsequent region.
 
In addition to the funding, Jixun Foo, managing associate in GGV Capital’s Shanghai office, will be part of GrabTaxi’s board of administrators. Foo has greater than 12 years’ enjoy working with Asian marketers and additionally serves at the boards of global businesses together with Qunar, Youku-Tudou and Tujia.
 
“We are excited about running with Anthony [Tan] and his team. Their awareness and understanding of nearby markets will fuel their fulfillment and offer aggressive advantage. Therefore we accept as true with that GrabTaxi for Southeast Asia and Didi for China will be the cross-to transport app in their regional markets,” she stated.
 
The new funding follows the declaration of its Series A investment round amounting to more than US$ 10 million in April, an quantity that GrabTaxi executives had insisted to Digital News Asia (DNA) was now not correct, however Tan showed the amount with TechCrunch.
 
According to assets familiar with the dealings, the organization had secured the funds lower back in mid-2013.
 
A organisation spokesperson informed DNA they “couldn't affirm the timeline” and said that the company became now not in “stealth mode” during that point, including that the delayed statement turned into because of a selection to recognition on increasing the commercial enterprise and its operations alternatively.
 
According to the organisation, greater than 20,000 taxi drivers have registered with GrabTaxi and estimates that one in two lively taxi drivers within the region can be at the GrabTaxi community via the give up of 2015.
 
In mid-May, the employer also released its top rate trip carrier GrabCar in Malaysia in beta, a flow in the direction of consolidating marketplace presence and expanding its capability client base.
 
Despite Tan telling DNA that the employer had no immediate plans or deadline to enlarge to different markets, on May 22, the GrabCar service was also launched in Manila.

Related Stories:

GrabTaxi increases Series A for undisclosed amount

Week in Review: A domestic run overlooked with the aid of GrabTaxi

MyTeksi launches Uber-like carrier, pundits laud move

For more generation news and the modern updates, follow us on Twitter, LinkedIn or Like us on Facebook.

Keyword(s) :
GrabTaxi Anthony Tan GGV Capital Qunar Vertex Venture Holdings Jixun Foo Series B Funding Mobile App Transportation
Author Name :
Digital News Asia

Shohoz raises $15 million funding From Abroad

Komentar

Posting Komentar

Postingan populer dari blog ini

Fake antivirus invading app stores: Kaspersky

Gambar
Fake Kaspersky apps found in Windows Phone Store and Google Play App save safety mechanisms cannot address those styles of scams FAKE antivirus programs are increasingly more acting in cellular app shops, consistent with Kaspersky Lab.   In a assertion, the agency said it these days observed two such programs imitating its products in two unique professional app shops for cellular gadgets.   The first faux app became located in Windows Phone Store. This in itself became uncommon because scammers tend to goal customers of Android – via Google Play – due to the latter platform’s recognition.   The app in question went by way of the call of Kaspersky Mobile. The truth there is no such software in Kaspersky Lab’s product line indicates the fraudsters didn’t count on each person to notice the discrepancy.   Another interesting function of this unique app become the reality customers had to pay for it. This meant its creators without delay began creating wealth while not having to plot...
Baca selengkapnya

Brocade names new head for South-East Asia

Gambar
Lily Foo could be liable for charting the employer’s standard boom throughout the location Was previously with Datacraft, Avaya, Verizon (MCI Worldcom) and SingTel BROCADE has named Lily Foo (%) as head for South-East Asia, responsible for charting the company’s common growth throughout the place. She can be based totally in Singapore and file directly to Brocade vice president for Asia Pacific Charlie Foo, the organization said in a assertion. According to IDC, South-East Asian IT spending will hit US$forty eight billion for 2012, representing a market boom of 13% yr-on-12 months, Brocade said, bringing up the Southeast Asia ICT 2012 Top 10 Predictions, IDC Asia/Pacific record. As the local IT markets mature, CIOs are anticipated to invest in cloud computing, on-call for services, mobility and social media tools, with a heavy recognition on lowering the overall value structure and increasing performance within the employer. Foo joined Brocade in 2008 and changed into most curre...
Baca selengkapnya

More than 1-in-5 households in Singapore on fiber

Gambar
OpenNet subscribers develop to 250,000 in November, one hundred fifty% up from the begin of the 12 months Broadband penetration fee still at 93%, however every day usage up from seventy six% in 2011 to 87% in 2012 A FIBER Index Survey commissioned by using OpenNet Pte Ltd indicates that greater than 1-in-five families in Singapore at the moment are the use of fiber connections for Internet get entry to, IPTV and different bandwidth-in depth programs.   The survey additionally highlights a extensive growth within the wide variety of broadband users gaining access to the Internet to download, add and shop digital content, OpenNet stated in a announcement. The survey became performed through Acorn Marketing & Research Consultants.   “We located a more pride with fiber services among existing clients and an increasing call for for trouble-free on line experiences amongst non-fiber users,” said Mark Blake, OpenNet chief government officer.   “Requests for optical fiber broadband c...
Baca selengkapnya