New funding makes China’s Didi ‘most valuable Asian startup’

A woman walks past Didi Chuxing's booth at the Global Mobile Internet Conference (GMIC) 2017 in Beijing, China April 28, 2017. REUTERS/Jason Lee

SHANGHAI: China’s ride-hailing leader Didi Chuxing said it had raised more than US$5.5bil (RM23.87bil) in new financing amid reports that the fund injection makes it the most valuable startup in Asia with a worth over US$50bil (RM216.50bil). 

Beijing based-Didi, which claims nearly 90% of China’s ride-hailing market after buying rival Uber’s assets in the country last year, said it would use the money to “support its global strategy and continued investments in AI-based technologies.”