Ninebot Inc. Raises $100 Million USD in C-Round Financing for Mobile Robotics and Intelligent Short-Distance Transportation Products

BEIJING, Oct. 24, 2017 /PRNewswire/ -- Ninebot Inc. [http://www.ninebot.com/], a leading company in the short-distance electric transportation industry, announced today that it has raised the equivalent of $100 million USD in C-round financing from SDIC Fund Management Company Ltd. and the China Mobile Fund. China Renaissance is an exclusive financial adviser in this financing. In a bid to further enhance the deployment of Ninebot's business around the world, this round of financing will be dedicated to mobile robotics and intelligent short-distance transportation solutions. Lufeng Gao, Founder & CEO of Ninebot, shared this great news with all the staff in an internal letter.

Ninebot has enjoyed rapid growth since its inception in 2012, winning support from investors and shareholders such as Xiaomi, Sequoia Capital, Shunwei Capital, Huashan Capital, Intel, GIC, Haiquan Funds, and many others. In March 2015, Ninebot acquired Segway Inc. [http://www.segway.com/], the world leader in electric self-balancing transportation. This 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.

"I believe that AI and intelligent robotics will exert profound influence on all aspects of society in the future. This will usher in another round of growth and development" said Lufeng Gao, Founder & CEO of Ninebot. Earlier this year Ninebot unveiled Segway Loomo, a result of Ninebot's devotion to the development of Segway Robotics, at the AUVSI XPONENTIAL 2017 event. Loomo has already become the archetype of the general-purpose robotic service platform. Ninebot will adhere to its mission of "Simply Moving!" by investing more in the R&D of robotics and intelligent short-distance transportation solutions, with the goal of providing more futuristic and technically advanced products to users.

Lufeng Gao said, "We attach great importance to innovations of R&D, talent cultivation, and business operation. In this respect, we have established an independent lab to experiment with new projects and ideas and have also sponsored recruitment advertising worldwide to attract more outstanding talents."

About Segway & Ninebot

Ninebot Inc. is headquartered in Beijing, China. Ninebot Inc. acquired Segway Inc. to form a new, global Segway company. Its business focuses on two major business items: Personal Transportation and Segway Robotics. For more information, visit http://www.segway.com [http://www.segway.com/]

CONTACT: Quan Quan, +86-158-0136-6262, quan.quan@ninebot.com

Web site: http://www.segway.com/ http://www.ninebot.com//

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