Didi Kuaidi remains the leading car-hailing firm in China. (Photo : www.marsdigest.com)
Didi Kuaidi, the leading mobile ride-hailing firm in China, recently announced that it was able to raise a total of $2 billion from its latest fundraising round, according to the Shanghai-based China Business News.
The report also stated that the figure may even rise after its rival and challenger U.S.-based Uber revealed that it will be investing $1 billion in China.
Though Didi Kuaidi did not disclose the whole roster of investors, it announced some of the companies, which include Ping An Ventures and Capital International Private Equity Fund.
The new list of investors is an addition to the existing firms with invested funds to Didi Kuaidi, such as Coatue Management, Temasek, Tencent and Alibaba.
Jean Liu, the company's president, earlier planned to raise $1.5 billion, which has been met in just two weeks.
According to the ride-hailing app, the recent addition to its funds has raised its cash reserves to over $3.5 billion.
An insider said that the investment has also made the firm's valuation increase up to $15 billion.
Furthermore, the report said that the recent round was aimed at attracting investors based on strategic factors.
Since Didi Kuaidi launched its carpooling app to match its rival's People's Uber, the firm's demand for capital has surged.
Liu added that gathering and pouring in more capital in technology are needed when a company ventures into a new business segment.
The new funds gathered will also be dedicated to strengthen its share in the market, improve data and technology research, enhance user experience and develop new services.
Data from Analysis International showed that the firm holds 80 percent of the ride-hailing market.
