Grab Holdings To Take Equity Interest In Remote-Driving Tech Startup
Synopsis
The investment is subject to regulatory approval and expected to close in the fourth quarter.
Grab Holdings (GRAB) announced on Monday that it is investing $60 million in remote-driving technology provider Vay Technology in exchange for a minority equity stake in the startup.
The investment is subject to regulatory approval and expected to close in the fourth quarter.
The company added that the funding could increase to a total of $410 million if Vay hits certain milestones within the first year of funding.
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