December 21st Update: Grab is reportedly in talks with the SoftBank Vision Fund to invest “upwards of $1 billion” and as much as $1.5 billion in additional late-stage funding, sources told TechCrunch. It is unclear whether this would be a continuation of Grab’s Series H or a separate series of shares. Crunchbase News reached out to the Vision Fund, which declined to comment.
Last week, Yamaha Motor Company, the designer and manufacturer of Yamaha motorcycles, announced it’s investing $150 million in the company. In its statement, Yamaha said it will partner with Grab to expand its scooter share availability in Indonesia.
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It’s difficult to keep track of who invested how much and when into this ongoing Series H. So, Crunchbase News figured we’d spell it out. Take a look at the chart below, particularly if you’re just catching up.
The most notable investment announcements from above include that $1 billion Toyota funding first announced in June 2018, which kicked off the round that will reportedly reach $3 billion by its closing time. Tallying up the numbers, the round currently stands at $2.65 billion, not including the undisclosed amount that Microsoft invested in the company in October.
If the Series H reaches $3 billion Grab will have raised a known total of nearly $6.7 billion in equity financing. Based on the $9 billion pre-money valuation at the time of Toyota’s first commitment, a total capital infusion of $3 billion would bring Grab’s post-money valuation up to as much as $12 billion.
Of course, as we have mentioned many times before, Indonesia is Grab’s top competitor Go-Jek‘s home base. Go-Jek started off in the country by offering a motorcycle hailing application and it has quickly expanded into other verticals in Indonesia, aiming to be Asia’s next big online-to-offline superapp. This year, Go-Jek began its geographical reach into other areas of Southeast Asia including Grab’s home base in Singapore.
It’s a tight race, and with capital pouring in from all angles–from automakers to big tech–it will likely only heat up from here.
Illustration Credit: Li-Anne Dias
Editiorial Update: A previous version of the first chart mistakenly listed Grab’s two $1 billion announcements as “$1,000B.” It has since been updated.