emergentfutures:

Mobike raised the latest round from Chinese internet giant Tencent and renowned Silicon Valley tech investment firm Sequoia Capital, as well as a number of other investors.

Total funding in the Beijing-based company now stands at $US925 million (£725 million), according to Crunchbase.

Launched just over a year ago, Mobike’s orange wheeled bikes can be found in cities across China, as well as in Singapore. There are 5 million of them in total and they facilitate 25 million rides a day. They can be accessed using a smartphone app.