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Other investors include hedge fund Coatue Management LLC and
China's mobile car-ride hailing company Didi Kuaidi, GrabTaxi
said in a statement, adding that it would use the funds to
expand its private vehicle hire and motorbike booking services
and invest in technology.
Singapore-headquartered GrabTaxi competes with the likes of Uber
Technologies Inc [UBER.UL] and Rocket Internet's Easy Taxi in
the city-state and some of the other Southeast Asian markets in
which it operates.
The company, which counts Japanese telecoms firm SoftBank Corp
and a unit of Singapore state investor Temasek Holdings [TEM.UL]
as shareholders, has now raised about $700 million since it was
launched in 2012.
It was unclear, however, how much the latest fundraising valued
the company.
The use of taxi-hailing apps is growing in Southeast Asia,
especially Singapore, one of the most expensive places in the
world to own a private car. Heavy traffic in cities such as
Manila and Jakarta also makes finding taxis tough, benefiting
these apps.
(Reporting By Aradhana Aravindan; Editing by Miral Fahmy)
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