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SINGSEC Drives Domestic Bicycle-sharing to Go Abroad

By Mar. 1，2017, bicycle-sharing startup OFO has raised $450 million in D funding round, which is said to be the largest of a single deal in the bicycle-sharing industry. Meanwhile, Mobike by the end of February has secured a new fund-raising from Temasek Holdings and Hillhouse Capital. Besides, Mobike has also been invested $215 million by Tencent Holdings, Warburg Pincus and Sequoia Capital in January. According to the statistics by OFO, registered users have been 20 million with 1 million connected bicycles in nearly 40 cities, accumulatively 300 million times of services provided since June, 2015. For the next stage, domestic bicycle-sharing enterprises will target the markets of Europe, America, Japan, South Korea and Southeast Asia as necessary. To fulfill the target, technical problems including network access chip and GPS positioning for bicycles should be solved as a priority. In May, SINGSEC has successfully provided outbound network access service to bicycle-sharing enterprises, making bicycles more convenient to communicate wirelessly abroad.