oBike secures US$45mil Series B funding

By Digital News Asia August 17, 2017

oBike has expanded its operations to over 10 countries and regions
Singaporean startup will use the funds to become a global player

oBike secures US$45mil Series B funding

OBIKE, Singapore's homegrown station-less smart bike-sharing company, announced on Aug 17 that is has secured US$45 million (RM193.27 million) Series B round of funding.

Its investors include a global transportation platform; Grishin Robotics, a venture capital firm founded by Dmitry Grishin, who is the co-founder and chairman of Mail.Ru Group, as well as several family offices in Southeast Asia.

Since its launch in Singapore in January this year, oBike has expanded its operations to over 10 countries and regions such as Australia, Germany, Malaysia, Netherlands, Taiwan, Thailand and United Kingdom.

With the latest round of funding, oBike, currently the biggest bike-sharing operator in Southeast Asia, will now shift its gears to become a global player.

"oBike was founded with the vision of transforming how people in urban Singapore travel using technology. Users can now travel conveniently--especially for first- and last- mile commuting--via bicycles located all over the island," said oBike chief marketing officer and co-founder Edward Chen.

"This vision has been realised and we aim to bring our success story in Singapore to other parts of the world with this round of funding. We hope to empower commuters globally with flexibility, convenience while helping them reduce their carbon footprint at the same time."

oBike is Singapore's first station-less smart bike-sharing company which uses technology to change how transportation is viewed in Singapore, allowing commuters to conveniently travel- especially during one-way first- and last-mile commuting - via bicycles located all over the island.