singapore-based startup: Soft Bank is already a major backer of the Singapore-based startup, and the latest investment will boost its stake. ; Grab founder Anthony Tan is battling Go-Jek for leadership in the Southeast Asian market after vanquishing Uber Technologies Inc. in the region last year, according to The Japan Times. He plans to spend a significant portion of the latest proceeds in Indonesia, the home turf of Grab's rival. The funding brings the amount of money the company has collected from investors in the past year to about 4.5 billion, it said. Go-Jek has presented the thorniest challenge, with the Jakarta-based startup marching into Grab's home market of Singapore as well as Vietnam and Thailand. Southeast Asia's two most valuable startups are aiming to expand swiftly in everything from mobile payments to food delivery. Go-Jek, led by Tan's Harvard Business School classmate Nadiem Makarim, is also raising additional capital to compete for customers and drivers.
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