DiDi Chuxing raised new $4 billion

DiDi Chuxing announced it has raised a new funding of more than US$4 billion to boost international expansion and development of artificial intelligence (AI). The Beijing-based ride-hailing startup has accumulated funding for a total of US$9.5 billion only during this year.

DiDi said on Thursday it had raised a new investment of US$4 billion which means it has collected almost all Chinese companies that rolled out IPOs in the US this year. Recent fundraising brings valuations above US$50 billion as China's second largest unicorn after Alibaba's Ant Financial.

Tinuku DiDi Chuxing raised new $4 billion fund

DiDi said the new funding will be used to support AI research, global business expansion, and new business initiatives including the development of an electric vehicle service network. Startup also plans to increase investment in AI integration for smart vehicles and expand services to markets around the world.

The company also said it will hire more new energy vehicles in its service network as part of its efforts to transform the car and transportation industries. DiDi did not elaborate on who became an investor in this new funding round.