company, Mobike, announced that it has raised $215 million in a Series D investment round led by Tencent and Warbug Pincus. Online travel company, Ctrip, Huazhu Hotels Group and TPG private equity joined the round as strategic investors, whereas existing investors, Sequoia China and Hillhouse Capital also joined the investment round. Mobike claims that it will use the investment and work with the companies to explore growth opportunities in China’s travel and transport sectors, as well as help Chinese travelers, who use bicycles, get easy transport in the cities and increase the user-base.
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