Personal transportation company Ninebot raised its first external funding in a Xiaomi-backed round and has used the cash to buy electric vehicle maker Segway.
Ninebot, the China-based manufacturer of personal transportation systems, secured $80m in funding today from investors including smartphone manufacturer Xiaomi.
Venture capital firms Sequoia Capital and West Summit Capital, and Shunwei Foundation, a vehicle for Xiaomi CEO Lei Jun, also took part in the funding.
Founded in 2012, Ninebot produces battery-powered, robotic personal transportation systems, initially sourcing the cash for its vehicles using crowdfunding.
The cash infusion was used to acquire US-based personal electric vehicle maker Segway from investment and real…
