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Jack Ellis · · 1 min readIn brief: Grab says it commands 65 percent of Indonesia’s ride-hailing market
Photo credit: BYD
Grab claims it holds two-thirds of Indonesian ride-hailing market (Singapore/Indonesia). It wasn’t immediately clear, however, if Grab’s Indonesia managing director Ridzki Kramadibrata included services such as motorbike transport or express delivery in his definition of ride-hailing. Go-Jek – which is better known for its two-wheeler services – is Grab’s main rival in Southeast Asia following Uber’s exit earlier this year. The Indonesian firm expanded to Vietnam earlier this month.
Grab also said its Grab Ventures unit will invest US$250 million in Indonesian startups working on “mobility, food, logistics, fintech, and other online-to-offline challenges.” The Singapore-based company revealed that it had raised US$2 billion in a Toyota-led funding round earlier this month.
(Reuters)
Other news
Logivan raises US$1.75 million in series A round (Vietnam). Insignia Ventures Partners and Ethos Partners co-led the series A investment in the Hanoi-based logistics platform. Logivan directly connects businesses that need to move small multi-ton shipments to truckers and delivery firms. (Logivan)
Editing by Eileen C. Ang
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