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China’s bike-sharing battle intensifies with Hellobike’s Series B backing, & more

Bike-sharing startup Hellobike receives tens of millions in USD in Series B round


Founder: Yang Lei

Founded in: 2016

Financing status: Hundreds of millions in RMB (tens of millions in USD) Series B financing in 2017

Hellobike is a bike-sharing startup that provides bike rentals for short trips such as rental of bikes from subway stations to the office, and from home to supermarkets. Founded in Shanghai in 2016, Hellobike has so far placed about 700,000 bikes in 16 cities in China, and has 11 million users with more than 3 million bike rentals daily. In addition, the startup achieved profitability of 90 percent in the cities where its bikes are placed. Its profits are mainly from its bike rentals and advertisements. Users can rent its bikes for free from 11pm to 6am, and it charges RMB 1 hourly thereafter.

This Series B financing round was led by Chengwei Capital, and supported by its previous investors. The fund will be used to manufacture 5 million bikes to place in more than 100 cities across China .

Mobile health management platform Miaojiankang receives USD 36 M in Series B round


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Founder: Kong Fei

Founded in: 2014

Financing status: RMB 250 million (USD 36 million) Series B financing in 2017

Miaojiankang is a mobile health management platform that integrates health data collection, health behavior intervention, and other health services based on big data. The platform collects health data from intelligent hardware including smart bracelets, body fat calculators, glucose meters and so on. From the analysis of these collected data, it can provide various health services and offer several health management options such as sports suggestions, diet advice, and consulting doctors online. Miaojiankang was founded in 2014, and has collaborations with many insurance service providers and intelligent hardware companies including Sunshine Insurance Group and Aigo.

Miaojiankang received USD 14.5 million for its Series A financing last year, and this Series B round was led by CITIC Capital and ABC International. The fund will be used to accelerate its tech product development and to seek collaborations with more companies to join its health management platform.

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