Hellobike gets $153m funding

Consortium led by Fosun invests in Shanghai-based bike-sharing firm

After a topsy-turvy year, China's bike-sharing industry saw a flurry of activities with a Shanghai-based firm getting funds from a consortium led by Chinese conglomerate Fosun.

Hellobike said on Wednesday that a consortium led by Shanghai-based conglomerate Fosun International and venture capital firm GGV Capital had invested 1 billion yuan ($153 million) in the company's D2 round, or fourth stage, of financing.