Uber Raises Money, Didi Dache Gets a Turn
Singapore’s Temasek Holdings has invested in a taxi-hailing app. Last week, SWFI confirmed that Qatar Investment Authority (QIA) invested in Uber. SoftBank invested US$ 250 million in Uber rival Malaysia-based GrabTaxi. Along with other investors, Temasek, Russian investment firm DST Global and Tencent Holdings invested a total of US$ 700 million in Didi Dache’s Series D round. Didi Dache claims that it has an excess of over 100 million registered users and is used in over 300 cities in China. In January 2014, Didi Dache raised US$ 100 million in a Series C round which had CITIC Capital Holdings and Tencent Industry Win-Win Fund as investors.
Didi Dache is seeking to hook up its taxi software to China’s public transportation network. In China, Didi Dache’s main competitor is Kuaidi Dache, an app backed by the Alibaba Group.
Temasek Holdings and its venture arm, Vertex Venture Holdings, have invested in a number of Asian startups. Temasek Holdings invested in Lazada recently.
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