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Tencent-backed Ruqi raises $153m for robo-taxi service

Chinese ride-sharing startup to build fleet of over 200 self-driving vehicles

Ruqi Mobility, also known as ride-sharing platform Ontime, has secured over 1 billion yuan in a Series A round.

HONG KONG -- Ruqi Mobility, a ride-sharing platform backed by Tencent and China's state-owned automaker GAC Group, has raked in over 1 billion yuan ($152.6 million) in a Series A round to speed commercialization of its robo-taxi service, the startup announced on Tuesday.

The funding round was led by existing backer GAC, a traditional automaker that is boosting its presence in autonomous vehicles.

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