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Didi Chuxing raised $7.3 billion in last funding round

Didi Chuxing raised $7.3 billion in last funding round
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The Chinese taxicab company Didi Chuxing Technology raised $7.3 billion last week in its latest investment round, said the firm in an official announcement.

Didi Chuxing, the direct competitor of the American company Uber in the Chinese market, raised $4.5 billion from investors including Apple for $1 billion and China Life Insurance. Tencent and Alibaba also took part in the funding of the Chinese firm now valued at $28 billion, according to Bloomberg.

Beside, Didi Chuxing sealed a deal with China Merchant Bank to obtain a syndicated loan of up to $2.5 billion.

According to Cheng Wei, co-founder and CEO of Didi Chuxing, efforts will focus on R&D, Big data and user experience.

The Beijing-based company is aiming to go public next year in New York stock exchange, said Bloomberg.