Microsoft is investing in Singapore-based ride-sharing giant Grab

09 Oct Microsoft is investing in Singapore-based ride-sharing giant Grab

The software giant has confirmed that it will invest in ride-hailing firm Grab, CNBC reports. However, Microsoft has not revealed just how much money it is putting into the company. This year alone Grab has already raised $2 billion, and after the Microsoft news broke, Grab president Ming Maa said the company is on track to raise $3 billion in all of 2018, suggesting Microsoft is investing a tidy sum (though likely not the entirety of the remaining billion). Some estimates place Microsoft’s investment at around $200 million.

Microsoft’s investment in Grab will see the company use Microsoft tech to improve user safety and experience. Specifically, Grab will work with Microsoft to develop new ways to verify drivers and passengers using artificial intelligence and facial recognition. “Where Microsoft fits into this is all of the AI/machine learning platforms that Microsoft has developed will allow us to build these services,” Maa said.

Source: Fast Company