Microsoft has invested an undisclosed amount of money in Singapore-based ride-hailing service Grab, according to CNBC.
The partnership will include technology projects between the companies in areas such as artificial intelligence and big data. Grab will use Microsoft services such as Azure cloud computing and fraud detection and allow customers to book rides through Microsoft Outlook. The partners also hope to develop facial recognition technology that could improve safety for passengers and drivers.
"We're fascinated with the companies that are emerging from Southeast Asia," Peggy Johnson, executive vice president at Microsoft, told CNBC. "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."
Grab already has raised over $2 billion this year from institutional investors such as Toyota, and Grab President Ming Maa said the company is on track to raise $3 billion by the end of this year.