Tech mammoth Microsoft has decided to invest in Grab; the Singapore based ride-hailing and on-demand services company.
The investment is to fuel Big Data and AI projects and according to the deal, Microsoft Azure will be adopted by Grab as its cloud platform. The exact amount of the investment wasn’t disclosed.
Grab which initially started as a ride-hailing company has since grown and has expanded to payment service and food deliveries.
The executive vice president at Microsoft, Peggy Johnson, said: “Our partnership with Grab opens up new opportunities to innovate in both a rapidly evolving industry and growth region.”
She further added in her interview with CNBC that "We're fascinated with the companies that are emerging from Southeast Asia. It's been amazing to watch what they have done with technology, in the way that they've applied it to solving problems for their customers."
Microsoft and Grab will further collaborate on various “innovative deep technology projects,” like facial recognition with built-in AI to modernize and authenticate Ids.
Meanwhile, president of Grab, Ming Maa revealed: “This partnership signals a deep collaboration with Microsoft on an array of technology projects, including big data and artificial intelligence, which will transform the delivery of everyday services and mobility solutions in south-east Asia.”