Yongche, a Beijing-based car rental booking service has raised $60 million in Series C funding, led by Ctrip and DCM.
The funding will be used for the development of the next version (5.0) of its mobile app and other related services.
Yongche also announced that Ctrip's services such as air, hotel and train will be integrated with its own.
DCM's other travel industry investments include China's online package service Tuniu where it invested a total of $60 million along with others.
Yongche has three services: self-drive car rentals, Uber-style luxury cars (Uber's expansion into Asia) and a taxi-booking app DaChe Xiaomi.
Recently, the Beijing Municipal Traffic Commission officially approved four taxi hailing apps, but DaChe Xiaomi wasn't among them.
Currently, Yongche services 49 cities in China but has plans to extend the service to more than 100 cities in China and also expand to markets out of China by next year.
In 2010, Yongche raised $1 million from ZhenFund followed, in 2011, by about $10 million in Series A from Morningside Ventures and Qualcomm Ventures. In early 2013 it raised $15 million in Series B from CBC Capital (also invested $10 million in China's Breadtrip) and some of existing investors.
Competitors of Yongche in China include Uber, Yaoyao ZhaoChe, Didi DaChe, and Kuaidi DaChe (raised $100 million recently).
In October 2013, Singapore-based peer-to-peer car rental player iCarsClub (TLabs here) launched its service in Beijing. Other P2P rental companies include Wodache, and Pickride.
Yongche was founded in 2010 by Zhou Hang.