It seems that the epic merger between Didi Chuxing and Uber China is not going to end the fundraising spree in China’s ride-hailing industry.

After countless financing rounds, Didi Chuxing, China’s dominant ride-hail startup, just received another $119.9 million USD from Foxconn, the world’s largest contract manufacturer of electronics.

The news was revealed in a stock exchange filling by Foxconn under their trading name, Hon Hai Precision Industry Co., Ltd. The investment was made through its subsidiary Foxtec Holdings for a 0.355% stake in Didi Chuxing at a valuation of $33.7 billion USD.

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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.