Hong Kong's Gobee.bike raised $9 million

Gobee.bike raised US$9 million by Grishin Robotics and Alibaba Entrepreneurs Fund (AEF). Hong Kong's bike sharing service said on Thursday it has accumulated Series A funding to begin financing expansion in the city and abroad. The startup set up in April will expand the global network of New Territories, Lantau Island and Kowloon with thousands of bicycles for use by the end of August.

Tinuku Hong Kong's Gobee.bike raised $9 million

Gobee collects US$9 million in initial funding from Grishin Robotics and AEF to provide thousands of bikes and expand bsinis. The bike-sharing companies have been operating in Sha Tin, Tai Po, Ma On Shan, Tuen Mun, Fanling, Tseung Kwan O and Tung Chung.

"Sharing bikes offers many benefits such as improved air quality and healthier life quality that are in line with government initiatives to make Hong Kong a green city," says Gobee founder and CEO Raphael Cohen.

Funding will be used to enhance global technology, research and expansion including North America, Europe and Asia. Gobee's main competitor in Hong Kong to date is a bicycle rental shop that requires vehicles to be returned after use.

Gobee's dockless business model allows users to leave their bikes anywhere after use, making ease of convenience and flexibility for customers. The company charges HK$5 every 30 minutes or is different from the typical bike rental at Tai Po with HK$40 per day.

Gobee services are very similar to Ofo, Mobike, Obike and others by providing bikes through smartphone apps that scan QR code to unlock. Each one contains a GPS chip which means it can be lowered and rented from any location.

Two other bike-sharing operators in Hong Kong are the HobaBike launched in June for family users and require customers to park their bikes in designated areas. The third operator is in the process of being launched by a group of local cycling enthusiasts through crowdfunding.