Didi completes over $5.5b financing round

The logo of Didi Chuxing is seen at its headquarters in Beijing, May 18, 2016.[Photo/Agencies]

BEIJING - China's leading on-demand mobility platform Didi Chuxing announced Friday that it had completed a new financing round of more than $5.5 billion to support its global strategy and continued investments in artificial intelligence (AI).

Didi will continue to work with global communities and partners to offer more innovative mobility services, and expand smart urban transportation programs to build an efficient and sustainable global mobility ecosystem, the company said in a statement.

Didi is expanding overseas and entered the Brazilian market in partnership with a local company in January.

With the launch of Didi Labs in Mountain View, California earlier this year, the company aims to attract more talent and explore new investment opportunities.