17.08.2015 - GrabTaxi raises $400M round led by China’s sovereign wealth fund
Southeast Asia’s leading transportation app GrabTaxi now has new ammunition to battle against Uber and Go-Jek. The Singapore-headquartered startup has raised US$400 million in a round led by China Investment Corp (CIC), China’s sovereign wealth fund, according to the Wall Street Journal. CIC, a big investor in commodities, is putting more money into startups lately. The US$740 billion fund has backed Didi Kuaidi, GrabTaxi’s equivalent who is leading the Chinese market. Didi Kuaidi is said to be worth US$15 billion...............................................Full Article: Source
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