Honda invests in Southeast Asia-based Uber rival Grab

Publication: Tech Crunch,

Southeast Asia’s Grab, a ridesharing rival to Uber, has welcomed a new backer after Honda announced a strategic, undisclosed investment in the company in December 11. Grab raised a $750 million round led by SoftBank at a valuation of $3 billion in September, yet still it is adding more backers. This deal is an extension of that huge Series F round, and it is the second of its kind this month for Grab following an undisclosed investment from financial services firm Tokyo Century. While Honda is a major name to add to Grab’s investor list, it isn’t immediately clear how the companies will work together going forward, although we know it will initially focus on motorbikes.

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