Didi Kuaidi raised $142M in Venture round

What does Didi Kuaidi do?

Didi Kuaidi, is a company which is made up of China’s 2 largest taxi hailing companies in China, Didi Dache and Kuaidi Dache resulting from a merger in February 2015. Both of these firms remain separate entities. The application shows the real time locations of taxis on a map using GPS technology and helps users in finding a taxi through their smart phones. The request of the user will be sent to a proximate cab drivers who decides to either accept the order or not.

How much Didi Kuaidi was funded?

Didi Kuaidi raised $142M in Venture round on May 27, 2015 from Sina Weibo.

Previous funding

·         $2M in Series A funding on September 1, 2012 from GSR Ventures.

• $15Min Series B funding on January 1, 2013 from  the investos Tencent Industry Win-Win Fund.
• $100Min Series C funding on January 2, 2014 from the investors  CITIC Capital Holdings and Tencent Industry Win-Win Fund
• $700Min Series D funding on December 9, 2014 from the investors  DST Global, Tencent Holdings, GGV Capital and Temasek Holdings

·         Undisclosed amount in an Undisclosed round on January , 2015 from the investor Hillhouse Capital Group

What is next for Didi Kuaidi?

The taxi and ridesharing app market in China is a battlefield commercially and politically. However, Didi Kuaidi is taking this fight to the next level with a new program which allows app users to use 15RMB or US$2.42 discounts two times a day if users use Didi Express. Each discount of 15 RMB covers about 10 kms, which implies that Didi Express users can ride up to 20 Kms per day for free with the service. This discount ride is available in 12 major cities including Beijing, Shenzhen, Wuhan, Guangzhou, Xi’an and Nanjing.

More about Didi Kuaidi

It was founded on September 1^st, 2012 by Cheng Wei and has its headquarters in Beijing.