BikesharingUbikeraisesRMB100millioninA+round

Shanghai-based Ubike announced on December 13 it has raised RMB 100 million from BlackholeCap in its series A+ funding round. Meanwhile, Ubike has launched its latest bike “Mars” and established cooperations with Shanghai Jiading Automobile City, Zhima Credit and Yangtze River Airlines.

Ubike provides internet-based bike rental for short journeys and lets users rent and return bicycles through wechat or its App.

The Shanghai-based company secured millions of yuan in the angel round led by Zhonglu Capital and followed by Chuxin Capital, DL Capitals and Max-elerator in last August. Three months later, the company raised RMB 150 million in its A-round funding. YiCun Capital was the lead investor and BlackholeCap, Zhonglu Capital and Max-elerator followed.(Translated by Claire)