SHANGHAI/BEIJING: China’s most popular ride-hailing app Didi Kuaidi said on Monday it has invested in Indian peer Ola, forging a new alliance within a network of companies challenging US rival Uber Technologies Inc.

Didi joins existing investors including SoftBank Corp, Falcon Edge, Singapore sovereign wealth fund GIC and Tiger Global Management. A spokesman for Didi declined to specify the size of the investment.

SoftBank is the common investor backing most of the firms that are taking on Uber across Asia and in the United States.

The Japanese telecoms conglomerate already had stakes in Didi, Ola and Southeast Asian firm GrabTaxi. Didi has also invested in Uber’s US rival Lyft, which shares common investors with the other companies, including Chinese e-commerce titan Alibaba Group Holding Ltd.