Grab pledges $2b in SoftBank funds into Indonesia

It aims to create a transport network featuring EVs and geo-mapping solutions.

Grab is investing US$2b into Indonesia over a five-year period to help accelerate the development of the country’s digital infrastructure, according to a media release.

Using the US$1.46b capital invested by SoftBank, Grab aims to support the Southeast Asian country’s ambition of developing its digital economy by creating a ‘next-generation transportation network for cities.’ Grab and SoftBank will invest in a transport network will be based around an electric vehicle (EV) ecosystem in addition to geo-mapping solutions.

The superapp is also launching affordable e-healthcare services in Indonesia, within the next three months.

Also read: Grab targets $8.81b in funding by end-2019

Grab also unveiled plans to set up a second headquarters in Indonesia which will house its R&D centre in Jakarta and serve as the dual headquarters for the GrabFood business. It will also focus on developing solutions for micro-entrepreneurs like Grab-Kudo agents as part of its plan to double the number of micro-entrepreneurs in the country in five years, up from the current 5 million.

The latest announcement builds on Grab’s earlier investments which includes the Grab 4 Indonesia 2020 master plan. Grab claims to have injected over US$1b into Indonesia since 2017.

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