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Fosun leads bike-sharing firm HelloBike's $153 million funding

12/27/2017| 7:11:36 PM| ChinaTravelNews 中文

HelloBike announced that it has raised RMB 1 billion (USD 153 million) in its D2 round of financing, which is led by Fosun and backed by Ant Financial that also invested in the last round.

36Kr reported this morning that HelloBike has announced the completion of its one billion yuan (around USD 153 million) D2 round of financing, following its USD 350 million D1 round in early December. The latest round is led by Fosun, and GGV and Ant Financial also participated.

As of December 22, HelloBike has registered up to 88 million users and cooperated with 140-plus tourist attractions in more than 150 cities, with over 10 million orders every day.

Since this June, HelloBike has been carrying out a series of moves for a bigger picture on mobility, which uses sharing bicycles and the massive big data from bike-sharing to shape its "3510" mobility strategy and the business model of "4+2" (four wheels plus two wheels) to roll out a connected and intelligent eco-platform for mobility.

The connected "3510" transport strategy refers to segmenting travel distance to 3km, 5km, 10km and above and provide shared mobility means accordingly. At present, it has been carried out in various cities to provide overall connected mobility solutions and serve users with more diversified options tailored for short, medium and long-haul needs.

The daily operating cost for every Hello Bike at 0.3 yuan is lower than any other competitors’ in the industry.

HelloBike is also the first to enable electronic geo-fencing technology in the sector. The proprietary electronic geo-fencing technology based on the Internet of Things was launched in March this year at Jimei District of Xiamen, and HelloBike has so far mastered two geo-fencing solutions and has them tested across multiple cities.

TAGS: HelloBike | bike-sharing | financing
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