Investment of 500 million US dollars by SoftBank Group for Grab on-demand transportation companies is getting closer to an agreement. The investment is part of Grab's efforts as one of the largest companies in Southeast Asia to obtain new funding sources with a nominal value of US $ 1 billion. Quoted from CNBC, in the last six years since it was first formed, Grab has raised funding of more than 6 billion US dollars from SoftBank, Dush Chuxing, and Toyota Motor. As for the latest funding last month, Grab's valuation currently reaches 11 billion US dollars.
Grab will use an injection of funds worth 2 billion US dollars for regional development, service development and more focus on the development of technology owned by Grab in Indonesia. "There is technology, regional development, and service development, etc. However, the focus is indeed on technology," said Managing Director of Grab Indonesia Ridzki Kramadibrata at Intiland Tower on Wednesday (08/08/2018). In addition to the development of the technology called Ridzki, it will also develop the existing services. "From Grab itself, it focuses on developing in Indonesia, especially developing existing services, so that it will be closer to the community. We will start the development of Grab Express and Grab Food in Indonesia," he added.
According to him, Grab will expand to various cities in Indonesia for Grab Express and Grab Food. "Currently GrabFood already exists in 28 cities, while Grab's transportation already exists in 135 cities throughout Indonesia. The development is to expand to other cities, especially for Grab Food and Grab Express. Then, the improvement of Grab services, the technology will also facilitate its technology. for buyers as well as for our partners and merchants (Mitra Grab), "said Ridzki.