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China ride-hailer Caocao Chuxing receives billions of yuan in funding

Round marks China ride-hailing industry's 1st domestic equity deal this year

BEIJING -- Caocao Chuxing, the ride-hailing arm of automaker Geely, took in billions of yuan (a nine-figure dollar amount) in a recent funding deal, a source told 36Kr. The investment is China's first domestic equity deal in the ride-hailing industry this year.

Hangzhou Youxing Technology, which operates Caocao Chuxing, adjusted its share structure on Aug. 4, adding Zhejiang Geely Holding Group as a new shareholder, according to Tianyancha, an enterprise information query platform.

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