HK: Bike sharing platform Gobee raises $9m from Grishin Robotics, Alibaba

White bikes clustered together.

Hong Kong’s bike-sharing platform Gobee.bike on Thursday announced that it has received $9 million in its first funding round led by US-based venture capital firm Grishin Robotics

Alibaba Hong Kong Entrepreneur Fund, a non-profit initiative by the Chinese e-commerce giant Alibaba, also participated in the financing, the company said in a statement.

The funds will be used by Gobee.bike to expand operations locally and overseas.

Launched by Raphael Cohen and Claude Ducharme in April this year, Gobee first offered services in Sha Tin, Tai Po and Ma On Shan and is now also present in Tuen Mun, Fanling, Tseung Kwan O and Tung Chung regions. The company further plans to expand to New Territories, Lantau and Kowloon by August end.

“Bike-sharing offers many benefits such as improved air quality and a healthier quality of life, which are in line with the government’s initiatives to make Hong Kong a greener city,” Cohen was quoted saying in a report by South China Morning Post. “With Gobee.bike’s green technology, we hope to contribute to the local economy and raise Hong Kong’s image as a green city.”

Gobee.bike’s goal is to solve the “last mile” traffic problem for the public in an environmentally friendly manner.

Alibaba Hong Kong Entrepreneurship Fund director-general Zhou Luo Meiqi said that the sharing of bicycles in Hong Kong and the global market have prospects for development. As Hong Kong is close to Shenzhen, Gobee.bike can quickly deploy the supply chain resources in Shenzhen and improve the function of vehicles in time.

At present, Gobee.bike’s international team includes technology research and development staff mainly for Hong Kong people. In future, it plans to expand to markets outside Hong Kong.

The Chinese bike-sharing market is dominated by players such as Ofo, Mobike, Obike and others. Both Ofo and Mobike are seriously looking to expand into other markets worldwide.

In addition to Gobee.bike, other firms offering shared bicycle services in Hong Kong include Ketch’Up Bike and Hoba Bike.

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