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Chinese bike-sharing startup raises $866 mn funding led by the Alibaba

IANS  |  New Delhi 

Beijing-based bike-sharing platform, on Tuesday said it has raised $866 million in its latest funding round led by the

Other participants in the funding round were Haofeng Group, Tianhe Capital, and Junli Capital, said in a statement.

Commenting on the fresh fund flow, Dai Wei, founder and of said: it has been "transitioning from a phase of rapid growth to a stage of high-quality development," adding, "ofo will continue to put customers first and lead the bike-sharing industry with technological innovation and efficient operations."

So far, Ofo has operations in over 250 cities across 21 countries with over 200 million users, the statement said.

--IANS

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, March 13 2018. 14:58 IST
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