Medical technology developer Smart Xingtong has contributed to a $58m round for Bluegogo, which will use the funds to continue its international expansion.
China-based bicycle-sharing platform Bluegogo has closed a RMB400m ($58m) round featuring medical technology provider Smart Xingtong, China Money Network has reported.
Venture capital firm Black Hole Capital led the round, which included individual investor Zhang Liang. Bluegogo had previously secured $8.4m in a 2015 series A round backed by Zhen Fund and Sinovation Ventures.
Founded in 2016, Bluegogo offers stationless bicycles that users can reserve, unlock and pay for through a mobile app. It has more than 2.5 million users…
