Grab, the ride-hailing firm that has dominated Southeast Asia online-to-offline platform for transport, food delivery, and mobile payment business has launched an innovation arm, Grab Ventures, aimed at discovering and supporting the next generation of leaders in tech.
Grab Ventures will seek to partner 8-10 growth-stage startups over the next 24 months, with focus on transport, food, logistics and financial services.
At the same time, the company will continue to develop in-house businesses as it has done with its personal mobility marketplace, GrabCycle.
It will also launch Velocity, an accelerator programme allowing growth-stage startups to leverage Grab’s operational expertise, products, and networks.
Partnership with the Info-Communications Media Development Authority (IMDA) and Enterprise SG sees government support in capability development, market access, regulatory support and grants.
Grab Ventures currently counts GrabCycle, Indonesian e-commerce firm, Kudo, US self-driving startup, Drive.ai, and Indian mobile payments provider, iKaaz in its portfolio.