Uber China raises $1.2 billion in ongoing fundraising round

SHANGHAI - Uber Technologies Inc's China unit has raised $1.2 billion as part of an ongoing fundraising round, the U.S. ride-hailing service's CEO Travis Kalanick said on Monday, even as its Chinese rival Didi Kuaidi raises $3 billion. Uber's Kalanick made the comments in an interview with Chinese news website Sina.com, which were confirmed by an Uber China spokeswoman. -Reuters