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Grab is getting another $2.5 billion to fight Uber in Southeast Asia

The Singapore-based ride-hailing service is getting $2 billion worth of the massive round of investment from current investors China’s Didi Chuxing and Japan’s Japan’s SoftBank, while another $500 million is expected to come from smaller investors, reports Reuters. The $2.5 billion round is reportedly the largest ever single financing round in Southeast Asia and demonstrates just how ferociously the powers that be are battling for ride-hailing dominance in that part of the world. Southeast Asia has a market of over 600 million people and the region is expected to become a keen focus for Uber after it pulled out of the Chinese market last year.MG