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Didi Chuxing invests in Brazil’s 99

DIDI Chuxing has made a strategic investment in Brazil's mobile transportation platform 99 as its latest step in global expansion.

Didi will provide strategic guidance and support in technology, product development, operations and business planning, according to a joint email statement today. Didi will also appoint one member to 99's board of directors. The specific amount of investment is not disclosed.

99's latest funding round is said to be over US$100 million, local Brazilian media quoted a source close to the deal as saying.

Didi has invested in several other players including Grab and Lyft as well as Ola to form alliances in a number of regions to fend off global competitors.

99 claims to be the market leader over Uber in Sao Paulo and Rio de Janeiro, with 140,000 registered drivers in Brazil and operates in 550 cities in Brazil.  


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