Ride-hailing app GrabTaxi received $350 million from a pool of Chinese investors that includes China's state-owned China Investment Corporation and Didi Kuaidi, the largest taxi-hailing app service in China.

GrabTaxi was founded in Malaysia as MyTeksi in 2011, and is now headquartered in Singapore. It rivals Uber in Southeast Asia, and operates in countries like Singapore, Indonesia and the Philippines.

This funding injection brings GrabTaxi's total funding to $700 million, said the company. It got $250 million from Japanese telecom firm Softbank in December 2014.

GrabTaxi said the money will be used to continue to expand geographically and hire engineering talent. It's also testing different services in the region, such as a courier service in Bangkok and a motorbike taxi service in Vietnam. These funds would go toward its experiments.

Commercial interest in taxi-hailing apps continues to rise, despite legal hurdles that have dogged these firms for a while. Just over a week ago, Uber had to shutter its Hong Kong office when three employees were arrested together with five of the service's drivers.