Mobike pumped up with investment from Temasek

Bike-sharing firm hopes funding can help it expand in China and overseas

Chinese bike-sharing startup Mobike announced on Monday it has received a strategic investment injection from Singaporean company Temasek Holdings, as it is locked in a fierce battle with Ofo for dominance in China.

With the deal the three-year-old company has raised more than $300 million since the start of 2017. Mobike did not disclose the specific amount.