Didi Chux­ing In­vests in Ca­reem

Arabnet - The Quarterly - - Industry Stories -

Didi Chux­ing, China’s largest mo­bile trans­porta­tion plat­form, has in­vested in MENA’S Uber ri­val, Ca­reem, in Au­gust. Both par­ties did not re­veal the size of the in­vest­ment. The startup will use the in­vest­ment to share knowl­edge and re­sources about var­i­ous top­ics, in­clud­ing in­tel­li­gent trans­porta­tion tech­nol­ogy, prod­ucts and op­er­a­tions, which falls un­der its vi­sion of help­ing to ac­cel­er­ate mo­bil­ity in the re­gion, and sus­tain­ing in­no­va­tion, and com­mu­nity en­gage­ment. The in­vest­ment fol­lowed to the startup’s an­nounce­ment of rais­ing $150M, to close a $500M Se­ries fund­ing round in June 2017. Didi Chux­ing serves more than 400M users in 400 cities with over 20M rides per day, and is on a mis­sion to build an open and sus­tain­able global mo­bil­ity ecosys­tem to ad­vance trans­porta­tion tech­nol­ogy and prod­uct in­no­va­tions. Ca­reem is cur­rently op­er­at­ing in 13 coun­tries and 80 cities, with 250000 driv­ers and more than 10M users. The star­tups has launched its ser­vices in Pales­tine on June 15; it started with the city of Ra­mal­lah, with plans to ex­pand to ad­di­tional cities in the coun­try. The startup has also part­nered up with Air­way­bill, the peer-to-peer ship­ping plat­form in June, and be­came its of­fi­cial trans­porta­tion part­ner in the Mid­dle East.

Newspapers in English

Newspapers from Lebanon

© PressReader. All rights reserved.