It's South-East Asia's turn to steal the taxi-booking limelight as GrabTaxi picks up another $65 million.
This is the third funding round the business has received and follows on from an eight digit amount raised this April and a $15 million injection a few months later.
And there might be more to come. Adelene Foo, general manager for MyTeksi, as the business is known in its core market of Malaysia, said in an interview with TheEdgeTV:
"This may not be the final funding round, seriously. Some companies have gone onto Series D."
Reports say that the third round has been led by Tiger Global, making its first investment in the business. Hillhouse Capital, another first-timer, is involved alongside existing VC stakeholders Vertex Ventures and GGV.
Qunar, the Chinese OTA, is another existing investor which has chipped into the latest round.
Foo did confirm that the business had received "approximately" $90 million and that this was "combined venture capital funding and loans."
Grabtaxi operates in 16 cities in six South East Asian markets - Malaysia, Singapore, the Philippines, Thailand, Vietnam and Indonesia.
Foo explained that the money will be used to "establish bigger imprints into our existing markets while expanding into smaller cities in the countries we already operate in."
She continued:
"This will be the focus before we start thinking about the choices for IPO. Probably in the future but for now it's still very early days."
She also talked about "driver-focused initiatives," many of which border on the philanthropic. GrabTaxi already runs a "rights to books" scheme where its drivers' children are given access to educational materials.
New on the agenda are English lessons for drivers.
"Investing in research and development to ensure we stay ahead of the innovation curve" is another focus for the latest cash injection.
GrabTaxi does not operate in China, where Uber is starting to ramp up its presence. Earlier this week Uber announced that it was expanding its not-for-profit "People's Uber" initiative into new cities including Hangzhou, Chengdu, Wuhan, Shanghai, Shenzhen and Guangzhou.
"People's Uber" is effectively a ride-sharing pilot scheme where Uber doesn't earn a fee and the driver is expected to only cover costs.