Microsoft does not want to be left out of big technology, mobility, Big Data and artificial intelligence projects: the latest decision is to invest more than US $ 200 million in the leading mobility service in Asia, Grab.
US-based tech giant Microsoft announced that it will make a heavy investment in Singapore-based transportation service Grab .
According to The Financial Times , the cash injection would total just over $ 200 million, bringing Grab’s valuation to about $ 12 billion.
Grab is the ride-sharing company that owns Benin Phone Number List Uber throughout Southeast Asia, an alliance that involved US $ 13 billion for an initial period of five years.
On the one hand, Microsoft will work with Grab on software projects related to facial recognition with the idea of helping drivers and passengers to recognize each other and with translation services in real time.
In return, the agreement also includes that Grab uses Microsoft’s cloud, Azure , which is seen as a way for the American company to consolidate its landing in the shared mobility ecosystem.
It is not Microsoft’s first investment in this type of travel services. In 2015, the company invested in Uber, and in 2017 it began working with the Indian company Ola to build a connected car platform and power in-car entertainment through Azure.
What is unprecedented is that it is Microsoft’s first investment in the South Asian market.
“This partnership signals a deep collaboration with Microsoft on a number of technology projects, including big data and artificial intelligence, that will transform Phone Number List mobility services and day-to-day solutions in Southeast Asia,” said Ming Maa, president of Grab, in a statement .
Ming Maa, CEO of Grab; and Peggy Johnson, CEO of Microsoft. Image: Grab.
SoftBank also plans to invest in Grab
Grab is all the rage as an investment destination. Last week, Reuters reported that Japan’s tech specialist fund SoftBank was to spend about $ 500 million on that Singaporean company.
SoftBank, founded by billionaire Masayoshi Son, teamed up with Toyota last week to form a new company called Monet Technologies. From there they will develop businesses that will use driverless car technology to offer new services, such as mobile convenience stores and delivery vehicles where food can be prepared on the go.