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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.



(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