Ninebot Inc., a Beijing, China-based short-distance electric transportation company, raised the equivalent of $100m in Series C financing.
Backers included SDIC Fund Management Company Ltd. and the China Mobile Fund.
The company intends to use the funds to further enhance the deployment of its business around the world.
Led by Lufeng Gao, Founder & CEO, Ninebot provides mobile robotics and intelligent short-distance transportation solutions.
In March 2015, the company acquired Segway Inc., the world leader in electric self-balancing transportation, which resulted in the formation of the Segway & Ninebot Group, and enabled the company to become a world leader in intelligent short-distance transportation solutions.
Currently, the group boasts leadership in two major business items: personal transportation and Segway Robotics. Earlier this year, Ninebot launched Segway Loomo, a general-purpose robotic service platform.