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Aya Lin · · 1 min readIn brief: Didi, Hellobike reportedly seek to raise funds as competition rises
- Chinese ride-hailing startup Didi Chuxing is reportedly planning to raise up to US$2 billion, while bike-rental company Hellobike is looking to bank US$400 million, signaling preparations for a rising competition, Technode reported.
- Didi recently set up a new business group including bike-sharing and motor scooter rentals in an effort to expand into the two-wheeler market. Hellobike, on the other hand, launched a ride-hailing service early this year.
- With tightening regulations and access to investment capital, the two companies are seeking new growth opportunities: Didi recently opened its app to third-party players and Hellobike teamed up with Ant Financial and Chinese battery maker CATL on an e-bike battery venture.
Editing by Charmaine de Lazo
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