Google has provided fresh funding for Kakao’s on-demand ride hailing spinoff two months after it received $200m from Carlyle Group.
South Korea-based ride hailing service Kakao Mobility has secured ₩56.5bn ($50m) from internet technology provider Google, Reuters has reported.
Kakao Mobility was formed in 2015 as Kakao Taxi and spun off by internet group Kakao two years later. It offers on-demand rides, parking management, navigation, intercity buses and shuttles to its customers, and its core machine learning-equipped app, Kakao T, has 28 million users.
The company launched with $437m in a 2017 round led by private equity firm TPG…
