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Mobile Bike Sharing App Ofo Raises USD 450 Mln Series D

Sina Tech, 3/01/17

Beijing-based Bikelock Technology, operator of mobile bicycle-sharing app Ofo, said today that it has completed USD 450 mln Series D funding, equivalent to RMB 3.1 bln. Funding was led by Russian venture capital firm Digital Sky Technology. Additional investors include car hire app operator Didi Chuxing, CITIC Private Equity Funds Management, Matrix Partners China, US-based investment management company Coatue, Atomico, and Beijing-based Macrolink Group.

Ofo's previous funding rounds include:

Pre-Series A, End of 2015: RMB 9 mln from Beijing-based Dongfang Hongdao Asset Management and Will Hunting Capital.

Series A, Feb 2016: RMB 15 mln led by GSR Ventures with participation by Beijing-based Dongfang Hongdao Asset Management.

Series A+, Apr 2016: RMB 10 mln from ZhenFund and angel investor Wang Gang.

Series B, Sep 2016: USD 8-digit sum led by Matrix Partners China with participation by GSR Ventures and Will Hunting Capital.

Series C, Oct 2016: USD 130 mln led by Coatue, Shunwei Capital Partners, and CITIC Private Equity Funds Management, with participation by Matrix Partners China, Vision Capital, Yuri Milner, Didi Chuxing, and GSR Ventures.

Editor's Note: Last month, Ofo was rumored to be raising up to USD 150 mln in new funding. Separately, Ofo's major rival Mobike also recently landed more than USD 300 mln in new investment. For more information on both of these topics, please see "Rumor: Bike Sharing App 'ofo' to Raise Up to USD 150 Mln in New Funding," MD 2/09/17 and "Bike Share App Mobike Secures New Funding from Temasek, Hillhouse," MD 2/20/17 issues.

Keywords: VC M&A mobile application funding wireless Series D Matrix Partners Digital Sky Technology Atomico Coatue Didi Chuxing Macrolink CITIC Private Equity Bikelock Ofo bicycle sharing

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