After much speculation it’s been confirmed that Alibaba and their financial affiliate, Ant Financial, will together invest $1.25 billion USD in Chinese on-demand food delivery app Ele.me.

Alibaba will pitch in $900 million USD while Ant Financial will add an extra $350 million to the round. The deal also includes a new partnership between Alibaba’s own on demand services platform, Koubei, and Ele.me.

The duo now represents Alibaba’s biggest bet in the on-demand market. Alongside the $1.25 billion injection into Ele.me, the Chinese internet giant also pledged 3 billion yuan to growing out Koubei. Ant Financial also committed the same amount to the project.

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Cate Cadell

Cate is a tech writer. She worked as a journalist in Australia, Mongolia and Myanmar. You can reach her (in Chinese or English) at: @catecadell or catecadell@technode.com