China’s Bike-Sharing War Far From Over As Hellobike Raises $500M This Month To Escalate Competition

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Chinese bike sharing firm Hellobike said it has raised RMB1 billion (US$152 million) in a D2 financing round led by Fosun Group and GGV Capital. The news came three weeks after the bike company raised US$350 million in a series D1 round, putting the company’s fundraising total to just over a half billion U.S. dollars in the past month and placing it in a strong position to compete with industry leaders Mobike and ofo.

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