The funding, the unit's first round, was led by investors including Singapore state investor Temasek Holdings, CPE and IDG Capital, said the source, who declined to be named as the issue is not public.
Didi, which is backed by SoftBank, did not directly comment on the funding but said it is confident about reaching growth goals this year, without elaborating. CPE confirmed it led the investment. Temasek declined to comment. IDG Capital did not immediately respond to a request for comment.
Didi is hiring van and truck drivers in big Chinese cities including Beijing, Shanghai, eastern Hangzhou and southern Shenzhen for its on-demand logistics services in an expansion of its operations in China with its CEO Cheng Wei setting a goal of completing 100 million orders a day and reaching 800 million monthly active users globally by 2022.
Didi has mobility services including ride-hailing, hitch, and bike sharing, and is developing auto-related businesses such as autonomous driving and fleet management operations with automakers.
The on-demand logistics services sector in China however is considered to be a crowded market, with Manbang, Huolala and Kuaigou as market leaders.
(Reporting by Yilei Sun and Brenda Goh, additional reporting by Kane Wu and Anshuman Daga; editing by David Evans)
