$45 million in funding secured for Singapore bike-sharing company

21 August 2017  •  Author(s): Eurotransport

Singapore’s first homegrown station-less smart bike-sharing company, oBike, has announced that it has secured US$45 million in a Series B round of funding.

$45 million in funding secured for Singapore bike-sharing company

Credit: oBike Facebook

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

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

This provides a convenient and environmentally-friendly commute option for all, especially given Singapore’s compact size and interconnected urban areas.

“We hope to empower commuters globally with flexibility [and] convenience while helping them reduce their carbon footprint”

“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 Mr Edward Chen, Chief Marketing Officer and Co-Founder of oBike. “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 [and] convenience while helping them reduce their carbon footprint at the same time.”

Since its launch in Singapore in January 2017, oBike has expanded its operations to over 10 countries and regions such as Australia, Germany, Malaysia, Netherlands, Taiwan, Thailand and the UK.

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.

The oBike app is currently available on the App Store and Google Play.

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