Chinese ride-sharing firm Didi Chuxing has invested in Middle East ride-hailing firm Careem as part of a new partnership agreement between the two companies.
Didi is investing in Careem to strengthen the Dubai-based company's position in the market and improve its services, the two companies said in a statement.
An investment figure was not provided.
The two companies will also collaborate by sharing information on transportation technology, product development, and operations, the statement said.
Careem, a Middle East rival to Uber Technologies Inc , offers services to 12 million customers in 13 countries, predominantly in the Middle East, the company said.
Didi offers services to more than 400 million users, according to the company. It acquired Uber China in August 2016.
Ride-hailing firm Careem buys stake in Egyptian transport start-upRide-hailing firm Careem, a Middle East rival to Uber Technologies Inc, has bought a minority stake in a three-month-old Egyptian start-up that ... Aviation & Transport
Daimler, Kingdom Holding invests in Careem’s latest funding roundDubai-based ride hailing firm Careem will step up expansion into new markets after raising $150 million from investors, including German carmaker ... Technology
Saudi Arabia to localize jobs in Careem and UberThe Saudi labor ministry and the Public Transport Authority issued a memorandum of understanding to localize labor in the car transportation services ... Aviation & Transport
Ride-hailing firm Careem on lookout for acquisitions, IPO an optionDubai-based ride-hailing company Careem is looking for acquisition opportunities and is considering an initial public offering as a possible option ... Technology