The round, which already stood at $2bn thanks to commitments from SoftBank and Didi Chuxing, has inched further towards its $2.5bn target with a cash infusion from Toyota.
Singapore-based on-demand ride service Grab has secured an undisclosed sum from carmaker Toyota’s Next Technology Fund as part of a $2.5bn series G round, TechCrunch reported today.
The first $2bn tranche was provided last month by telecoms and internet group SoftBank and ride-sharing app developer Didi Chuxing at a $6bn valuation. Grab is still seeking additional investors to complete the round.
Founded in 2012 as GrabTaxi, Grab operates an on-demand ride-hailing service that is currently available across 87 cities…
