Chinese ride-hailing giant Didi Chuxing said on Thursday it has raised $300 million for its autonomous driving unit, tapping investors to expand its technological know-how in the field for a second time since last year.
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.