Maybe Grabtaxi Got 1M Instead Of 10M

Interesting analysis on How much Grabtaxi has actually been funded.

From what i can see, the number raised is not 10M as some tech news blog has mentioned but rather, this round is a further 3M USD raised which is far more consistent to a Series A round. I really wish our reporters can get their facts right before publishing. It distorts the industry unnecessarily and the company and founder usually will not want to or cannot (due to NDA) comment and such matters. Lim Der Shing

I’m not sure about the numbers, but if the author is right about one thing. It is that many times reporters get their facts a bit sideway. One of the reason and many will know is that news sites are rushing to push out breaking news. If they are the first to released, they get the clicks and the hits. Making sure the information is right, comes second place. This is often done with updates on the article, which you will not return to read.

To set record straight, it seems that the company Grabtaxi Holdings pl has raised 5.281M USD to date where Anthony and Family have funded the seed round of 518K and a further 4.7M USD from investors which includes themselves. Of this 4.7M, 20% came from vertex. So to date, Vertex has invested about 1M in GrabTaxi. The rest is all family money. via Link

No opinion on this, but the number makes sense. Hopefully in his next post there will be quote to his sources.

Advertisements