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# Taxi app books US$350 in fundraising
- URL: https://hospitality.pro/taxi-app-books-us350-in-fundraising/
- Published: 2015-08-21T12:00:09.000Z
- Updated: 2015-08-21T12:00:09.000Z
- Author: Holedo
- Tags: Hospitality Industry News, News, #wordpress, #Import 2026-04-16 12:15

Southeast Asian taxi-booking app GrabTaxi Holdings has raised more than US$350 million in the firm?s biggest ever fundraising to boost its business in the rapidly growing market, Agence France-Presse reported.  
Singapore-headquartered GrabTaxi, which competes with the likes of Uber, said in a statement the funds came from investors that included China?s sovereign wealth fund China Investment Corporation and Coatue Management, a US firm that invests in technology companies worldwide.  
Didi Kuaidi, China?s biggest taxi app firm, is also among the big-name sources of the fresh funding.  
The injection brings GrabTaxi?s total funding to US$700 million which the company said makes it ?one of the best funded start-ups in the history of Southeast Asia.?  
GrabTaxi, which was launched in 2012, said it has a presence in 26 cities across six countries in Southeast Asia, including Malaysia, Singapore, Indonesia, the Philippines, Thailand and Vietnam.  
Ride-booking apps have become increasing popular as hailing traditional cabs becomes more difficult in many large, congested Southeast Asian cities.