Third-party taxi booking app GrabTaxi has secured over $10 million in additional funding from Temasek-owned subsidiary Vertex Venture.
The unspecified eight-figure amount will not only contribute to acquiring new talent like engineers and coders, but expansion into markets abroad as well.
GrabTaxi currently services more than 250,000 regular users across its five markets — Malaysia, Philippines, Singapore, Thailand and Vietnam — where a taxi booking goes through the system every two seconds. It has been downloaded on more than a milion mobile devices to date.
The for-profit app, runner-up in the 2011 Harvard Business School Business Plan Contest, is also a social startup aimed at ensuring drivers earn more by using its platform, while focusing on the safety of passengers.
Photo: GrabTaxi Facebook page
Source: Today
Third-party taxi booking app GrabTaxi has secured over $10 million in additional funding from Temasek-owned subsidiary Vertex Venture.
The unspecified eight-figure amount will not only contribute to acquiring new talent like engineers and coders, but expansion into markets abroad as well.
GrabTaxi currently services more than 250,000 regular users across its five markets — Malaysia, Philippines, Singapore, Thailand and Vietnam — where a taxi booking goes through the system every two seconds. It has been downloaded on more than a milion mobile devices to date.
The for-profit app, runner-up in the 2011 Harvard Business School Business Plan Contest, is also a social startup aimed at ensuring drivers earn more by using its platform, while focusing on the safety of passengers.
Photo: GrabTaxi Facebook page
Source: Today