Didi Chuxing raises US$4b

Business | 21 Dec 2017 3:49 pm

China's leading car-hailing firm Didi Chuxing Thursday announced that it had raised over 4 billion U.S. dollars in its new equity funding round, Xinhua reported.

Chinese and international institutions joined the latest fundraising round, a testament to strong investor confidence in the startup, according to a Didi press release.

The company did not name the investors.

The state news agency reported that the fund will be used to support AI capacity-building, international expansion and new business initiatives, including the development of new energy vehicle service networks.

With a substantial cash reserve, Didi plans to scale up investment in AI talent and technology and further build up its intelligent driving and smart transportation capabilities.



Search Archive

Advanced Search
January 2021
S M T W T F S

Today's Standard