BEIJING, Feb. 20 (Xinhua) -- Chinese bicycle-sharing platform Mobike announced a new round of financing on Monday, introducing new investors like Singapore-based Temasek, according to an announcement the company sent to the Global Times.
It has already secured more than $300 million in financing, the announcement showed. Investors also include Hillhouse Capital and Warburg Pincus.
Established in January 2015, the platform has tapped into 21 cities in China and it has also teamed up with multinational electronics contract manufacturer Foxconn Technology Group on January 23. The latter will produce millions of bicycles for the platform annually. (Global Times)
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