Bicycle-Sharing Startup Mobike Raises $215 Million
(Beijing) — Bicycle-sharing service operator Mobike has raised $215 million in new funding, providing fuel in its race with a growing field of rivals that are riding a bike revival in China.
Beijing Mobike Technology Co. Ltd., one of the earliest arrivals to China’s latest bike-sharing craze, is known for its stylish orange and gray bikes on sidewalks throughout major cities like Beijing and Shanghai. Its service allows subscribers to borrow its bikes anywhere they can find one and then park them wherever they want, with a small fee deducted for time of use.
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