Yingtong Technology, Tongcheng and Virtue Capital led a $1.2bn funding round in T3.

Yingtong Technology, Tongcheng, an online travel agency, and Virtue Capital, an investment company, led a $1.2bn funding round in T3, a ride-hailing company. T3's funding round comes as ride-hailing companies step up efforts to take market share from China's ride hailing market leader Didi Global which is facing a cybersecurity investigation by Chinese authorities.