MyTeksi raised US$90 million to-date

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KUALA LUMPUR (Oct 20): Home grown mobile taxi application service provider MyTeksi Sdn Bhd has secured a combined US$90 million of investments from US-based hedge funds to-date, according to its general manager Adelene Foo.

Foo told reporters during MyTeksi’s media briefing today that the third round of investment was led by Tiger Global Management.

"New investor such as Hillhouse Capital Management also joined the round with existing investors such as GGV Capital, Vertex Venture Holdings and Qunar," she added.

Meanwhile, Foo said MyTeksi targets to strengthen its presence by expanding to smaller towns or cities.

"We expect to expand our network in major cities especially in countries under our coverage," Foo said after a media update, citing that MyTeksi is currently present in six countries that include Malaysia, Singapore, Philippines, Thailand, Vietnam and Indonesia.

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