The on-demand car rental startup has revealed it has secured an eight-figure total across three rounds, two being led by subsidiaries of Baidu and Bertelsmann respectively.
China-based car-sharing services provider Mydadao has raised “tens of millions of dollars” from investors including internet company Baidu and media group Bertelsmann across three rounds, Kr Asia has reported.
Baidu led an initial round of undisclosed size through its Baidu Ventures subsidiary, before venture capital firm Sequoia Capital China led a second round.
Bertelsmann Asia Investments, a regional investment vehicle for Bertelsmann, subsequently led a third round that also featured Baidu Ventures, Sequoia Capital China and Volcanics Venture.
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