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Asia's Ride-hailing Service Grab Raises Another $1b

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Grab, popular in Southeast Asia, acquired Uber's regional business in March, reducing competition. : Southeast Asian ride-hailing service Grab announced Thursday it had raised a total of $2 billion in its current financing round, which means the company has raised another $1 billion since June 13, when Toyota Motors said it had invested $1 billion in Grab. The new investors include a number of global financial institutions, Grab revealed in its statement Thursday. Grab said the fresh capital would go toward expanding the company's range of services in Southeast Asia.

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