Taxi! Temasek firm backs South-East Asia cab booking app

BIG BACKER: A unit of Singapore state investor Temasek Holdings is putting its substantial clout behind an app that eases the pain of booking taxis in Singapore and Malaysia, aiming to expand the service in other busy South-East Asian cities.

SINGAPORE: A unit of Singapore state investor Temasek Holdings is putting its substantial clout behind an app that eases the pain of booking taxis in Singapore and Malaysia, aiming to expand the service in other busy South-East Asian cities. 

Vertex Venture Holdings, a US$1.2bil (RM3.87bil) venture capital firm that focuses on emerging companies and funds in Asia and the United States, said on Tuesday it was leading a group of mostly Malaysian investors putting an unspecified "eight-figure sum" into smartphone app company GrabTaxi.