Chinese ride-hailing giant Didi Chuxing (Didi) has made a strategic investment in Careem, a rival service that’s popular in parts of the Middle East, Africa, and Asia.
The investment — for an undisclosed amount — represents part of a broader partnership that will see the duo “share knowledge in intelligent transportation technology, product development, and operations,” according to a statement issued by Didi.
Didi Chuxing was born in early 2015 following a merger between local rivals Didi Dache and Kuaidi Dache.
Similar to Uber, Didi Chuxing offers smartphone-based car services, such as carpooling, taxis, and premium vehicles.
The company has raised vast swathes of cash in recent times, including $5.5 billion earlier this year and $7.3 billion last year, which includes a cool $1 billion contribution from Apple.
Though Didi is primarily known in its native China, where it claims 400 million users, it has made no secret of its plans to build a “sustainable global mobility ecosystem” through a number of initiatives, including partnerships and investments.