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10 July 2017

Big Deal: Ofo obtains $700m

The Alibaba-led series E round has proven the latest milestone for China's rapidly growing bike sharing sector as its biggest players look to move into foreign streets.

Author: Robert Lavine, News Editor

The $700m series E round closed by China-based on-demand bicycle rental service Ofo last week – its third nine-figure round in nine months – once again indicates the pace at which the sector is growing, and raises some tantalising questions about where it is headed.