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.