Anthony Tan, chief executive and co-founder of Grab, said in the statement, "We are delighted to deepen our strategic partnership with Didi and SoftBank", which he said "share our optimism for the future of Southeast Asia and its on-demand transportation and payments markets".
Grab's fresh fundraising is "a real endorsement of the potential and promise" of Southeast Asia's startup community, said Dane Anderson, a vice president at researcher Forrester. The end may be nigh for the once ubiquitous Uber in this part of the world, and Didi and SoftBank are hedging their bets.
The company said it will continue to strengthen its already-leading market position and invest in GrabPay, its proprietary mobile payments solution.
The new financing is meant to support Grab's efforts in strengthening its position in on-demand transportation and grow its mobile payments business in Southeast Asia.
South East Asian ride-hailing firm Grab has raised $2.5bn (£1.9bn) in fresh funds, in what it says is the region's biggest ever round of investment.
Uber, which has already retreated from markets in China and Russian Federation, now faces a much-stronger rival in Grab as well as an established player in Go-Jek, which dominates the ride-sharing market in Indonesia thanks in part to a $550 million investment from private equity groups KKR & Co. and Warburg Pincus LLC.
The latest capital infusion for Grab comes at a time when its rival Uber, which has a significant Asia presence, is fraught with challenges related to its workplace culture, patent infringements, driver related issues among others.
"Starting with transport, Grab is establishing a clear leadership in Southeast Asia's internet economy based on its market position, superior technology, and truly local insight", said DiDi's founder and CEO ChengWei. Last August, Uber sold its Chinese intrest to Didi.
Grab operates private vehicle, motorcycle, taxi and carpooling services across seven countries with 1.1 million drivers. Its proprietary cashless top-up payment service GrabPay Credits was also launched in December previous year.
Reliance Industries and Wipro traded on its new 52-week high of Rs 1,588.00 per share and Rs 290.90 per share, respectively. However, the market breadth closed negative as about 1,425 shares declined against 1,254 advancing shares on the BSE .
He pointed to discrepancies between countries' production and export figures, calling the difference "a matter of concern". The Saudis have belatedly woken up to how oil traders react to a USA that's visibly awash with crude.
Talking Smack debuted on the WWE Network on August 2, 2016 and would air immediately following SmackDown at 10pm ET. Young and Daniel Bryan hosted Talking Smack on the WWE network each week after 205 Live .
In California, "it is illegal to knowingly or recklessly transmit a sexually transmitted disease", according to the Daily News . She is concerned because she was "exposed" and says she wouldn't have had sex with Usher if he'd disclosed he has the virus.
Almost 70 percent of Democrats say Trump should be impeached, as do 36 percent of independents and 15 percent of Republicans. And in the other 16 states, his ratings through the first six months of 2017 are between 40 percent and 49 percent.
He added, "If anyone out there is struggling with the same thoughts, the same issues, please, do not make the same decision". I'm p***ed that you did this, but I know this could have been me back in the day after getting wasted one night.
Outside the gates of Congress, sectoral groups picketed and called for an end to the martial law. This is not the martial law that we had before.
Iraq not sure of fate of 39 Indians
Apart from Sushma Swaraj, al-Jaafari met Vice President Hamid Ansari and Minister of Petroleum and Natural Gas Dharmendra Pradhan. He said the Peshmerga were still clearing the ISIS held areas.
Deadly shooting incident at Israeli embassy in Jordan
Violence against Israelis is rare in Jordan, a tightly policed country that is also a staunch regional ally of the United States. Israel's move triggered Muslim protests and claims that it's trying to expand its role at the site, which is also holy to Jews.
Three Palestinians killed in soaring Jerusalem violence
By contrast, the Red Crescent reported at least 450 Palestinians were wounded in the demonstrations, almost half from tear gas. Also, three Palestinians were killed and tens were injured on Friday during the clashes with the Israeli security forces.
Gal Gadot Snaps A Quick Selfie With Her Justice League Bros
Thus, it's quite possible he won't get the main writing credit for Wonder Woman 2 and is just formulating the broader story ideas. IGN reports that during the Warner Bros . panel at the San Diego Comic-Con, a sequel to Wonder Woman was officially confirmed.
German girl found in Mosul is in good health
A pathetic image has surfaced in which an ISIS fighter is seen wearing woman clothes but forget to shave his beard and moustache. The teenager had married a Muslim Arab she met online after arriving in the group's territory, Iraqi officials said.
Spieth, Koepka, Kuchar lead American charge at British Open
Rain began pounding Royal Birkdale on Wednesday afternoon, closing the course because of the lightning that accompanied the storm. However, patches of bad weather often last for only part of the day, creating different course conditions for different players.