Ninebot Brings In $100 Million

Transportation company Ninebot announced the close of $100 million in Series C financing. SDIC Fund Management and China Mobile Innovation Industry Fund participated in the round.

Ninebot is a Chinese-based robotics engineering company specializing in autopilot and personal transportation. The company’s flagship product is its self-balancing electric scooter, with multiple precision sensors that recognize and continuously read each of the users’ body movements and — at a rate of 200 times per second — make adjustments to ensure that their balance, speed, and direction are maintained. The scooter also handles urban environments, including pavement and packed dirt surfaces.

This round of financing will be dedicated to mobile robotics and intelligent short-distance transportation solutions.