Didi Kuaidi, Uber’s dominant Chinese rival, today confirmed it has made an investment in India’s top ride-hailing app Ola. The company joins a slew of Ola’s existing investors, including Falcon Edge, GIC, Tiger Global Management and Softbank in supporting the company’s continued expansion in India.

The news comes from Didi Kuaidi, which did not specify the funding size. The investment is part of Ola’s latest fundraising goal, a $500 million USD at a valuation of approximately $5 billion USD.

It comes as Didi Kuaidi seals a series of new partnerships with both Chinese and global companies across different sectors, re-branding itself as a comprehensive mobile transportation platform this month.

Start your free trial now.

Get instant access to all our premium content, archives, newsletters, and online community.

Monthly Membership

Yearly Membership

What you get

Full access to all premium content and our full archives

Members'-only newsletters

Preferential access and discounts to all TechNode events

Direct access to the TechNode newsroom

Start your free trial now.

Get instant access to all our premium content, archives, newsletters, and online community.

Monthly Membership

Yearly Membership

Emma Lee

Emma Lee is Shanghai-based tech writer, covering startups and tech happenings in China and Asia in general. We are looking for stories related to tech and China. Reach her at lixin@technode.com.