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Taxi App GrabTaxi Raises $15 Million to Secure Southeast Asia Stronghold

Excerpt from TechCrunch

May 29, 2014 11:00 am

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GrabTaxi claims to be the largest taxi-calling app in Southeast Asia, a marketplace where competition continues to heat up as local and international players chase high demand for this specific service.

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GrabTaxi, the taxi-calling app that claims to be the largest in Southeast Asia, said today that it has raised a $15 million Series B led by GGV Capital with participation from Qunar and returning investor Vertex Venture Holdings.

Though GrabTaxi competes in the same space as Uber and Rocket Internet’s EasyTaxi, both of which are targeting Southeast Asia, Tan told TechCrunch last month that demand in cities in Singapore and Bangkok is high enough to support several taxi-calling startups.

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