Ninebot Inc., a Beijing, China-based maker of short-distance personal transportation equipment, received a venture capital investment from Intel Capital.
The amount of the deal was not disclosed. It is known that the investment is part of investments totalling $67M Intel Capital has made in eight Chinese companies.
Led by Gao Lufeng, Founder and CEO, Wang Ye, co-founder and President, Ninebot specializes in the R&D, production, sales and services of intelligent, short-distance personal transportation equipment, including unicycles, two-wheel self-balancing vehicles and other smart personal transportation robotics products. In April 2015, the company acquired the personal transportation leader Segway.
Post-acquisition, Ninebot serves customers in more than 100 countries with over 60% global market share in personal transporters and more than 400 core patents representing over 90% of the worldwide patents in the space.