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China’s auto and tech firm Didi raises $300 million for autonomous driving unit

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According to Didi, investment firm IDG Capital led the funding while CPE, the Russia-China Investment Fund, Guotai Junan International and CCB International were among the investors participating.

Some of the investors also recently invested in Didi’s freight unit.

One of the many auto and tech firms investing heavily in self-driving technology, SoftBank-backed Didi has gained open-road testing licences in California, Beijing, Shanghai and Suzhou. It first began to develop and test autonomous driving vehicles in 2016.

Didi’s autonomous driving unit raised over $500 million in May last year.