Photo credit: SWAT Mobility

Singapore-headquartered SWAT Mobility has raised an additional US$3.8 million of funding as it aims to expand its AI-powered transportation platform across Asia. This extends its total capital raised this round to US$7.2 million, CEO Jarrold Ong confirmed to Tech in Asia.

The fundraise comes amid a mixed outlook for the tech-enabled transport and logistics spaces in Asia. Indian ride-hailer Ola is gunning for an IPO while trimming markets and investing in new areas, while Singapore-headquartered NinjaVan is reeling from a cutthroat logistics price war.