As China’s bike-sharing war escalates, leading players in the industry are busy to stocking up on funds to in preparation for a stiffening battle. Mobike announced today that it has closed its 215 million USD series D, led by Tencent and Warburg Pincus, a leading private equity firm.

New strategic investors in this round include China’s largest travel company Ctrip, global leading private equity firm TPG, and China’s leading hotel operator Huazhu Hotels Group. A number of existing investors including Sequoia China and Hillhouse Capital also participated.

Mobike will work with these leading companies in China’s transport and travel sectors to unlock new growth opportunities and enable more travelers to get around cities more easily, the company added.

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Emma Lee

Emma Lee is Shanghai-based tech writer, covering startups and tech happenings in China and Asia in general. We are looking for stories related to tech and China. Reach her at lixin@technode.com.