Self-balancing Personal Transporter Firm Ninebot Completes USD 100 Mln Series C

Ninebot, 10/20/17

Tianjin-based self-balancing personal transportation robot developer Ninebot recently announced completion of USD 100 mln Series C funding from China Mobile Innovation Industry Fund and a fund managed by SDIC Innovation. Funds will mainly be used to increase investment in the robot and smart short transportation domains, and to support the company's global business development.

Ninebot was established in 2012. Its investors include Chinese Android device maker Xiaomi, Sequoia Capital, Shunwei Capital Partners, Beijing-based WestSummit Capital, Intel, GIC, and Hai Quan Fund.

In March 2015, Ninebot wholly acquired US-based pioneer in self-balancing personal transportation device manufacturer Segway.

Ninebot has also launched a global "Segway Discovery" program, to allow users to rent its products for short, convenient transportation at locations such as popular scenic attractions, resort towns, and popular urban districts. The project has already set up more than 1,000 Segway rental outlets worldwide.

Keywords: VC hardware funding Series C robot Segway Ninebot China Mobile Innovation Industry Fund State Development Investment Corporation

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