Singapore: Taxi-booking app GrabTaxi Holdings Pte Ltd said it raised over $350 million from investors including China`s sovereign wealth fund China Investment Corporation, in the Southeast Asian company`s largest ever fundraising round.
Other investors include hedge fund Coatue Management LLC and China`s mobile car-ride hailing company Didi Kuaidi, said GrabTaxi, which competes with Uber Technologies Inc.
GrabTaxi, which counts Japanese telecoms firm SoftBank Corp and a unit of Singapore state investor Temasek Holdings as shareholders, has raised a total of about $700 million after the latest fundraising.
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