Toyota Motor Corp has agreed to invest US$1 billion in Southeast Asian ride-hailing firm Grab as a lead investor in the company’s ongoing financing round, which was launched after it bought the regional business of Uber Technologies Inc. For the first time since its launch, Southeast Asia’s ride-hailing major Grab has officially announced its annual revenue at more than $1 billion, the first in Southeast Asia, Deal Street Asia reports. Just when it appeared Grab would have a wide-open road in Southeast Asia, the Singapore-based ride-hailing firm is now facing a new regional competitor, Go-Jek—Indonesia’s first unicorn start-up, and potential roadblocks from antitrust regulators. Go-Jek has announced plans to invest US$500 million to compete with Grab in Vietnam, Thailand, Singapore and the Philippines in the next few months.