Didi Chuxing said its autonomous driving subsidiary has completed a fundraising round of over $500 million — led by SoftBank Group’s Vision Fund 2.
The ridehailing giant said in a statement the round marked the first time Didi’s autonomous driving business had brought in external funding since it became a standalone unit last year and was also the single largest fundraising round in China’s self-driving sector.
Didi would use the capital to invest further in the research and development of autonomous driving technology as well as testing, and accelerate the deployment of autonomous driving services.
Didi has gained open-road testing licences in California, Beijing, Shanghai and Suzhou, it said. It first began to develop and test autonomous driving vehicles in 2016.
Waymo, the self-driving unit of Alphabet this month raised $750 million in its first external investment round.
China’s Pony.ai raised $462 million from investors led by Toyota Motor in February.