Sime Darby has taken part in the latest round for the ride sharing platform developer’s Malaysian subsidiary, helping to lift its total funding to $73m.

SoCar Mobility Asia (SoCar Malaysia), a Malaysia-based spinoff of South Korea-headquartered car sharing platform operator SoCar, has raised $55m in series B funding from investors including conglomerate Sime Darby.

Private equity firm EastBridge Partners also took part in the round, which took the company’s overall funding to $73m.

Formed in 2017 by SoCar and conglomerate SK Group’s SK subsidiary, SoCar Malaysia runs an online vehicle hailing platform. Its lead product, Trevo, is a peer-to-peer ride sharing service available in Malaysia…

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Edison Fu

Edison Fu is a reporter and Asia liaison at Global Corporate Venturing.
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