Chinese start-up Yellow has raised $9m in seed funding for its dockless bicycle hire service, aimed at reducing emissions and improving traffic flow. Founders Renato Freitas and Ariel Lambrecht , who recently sold their ride-sharing service 20,000 to Chinese giant Didi Chuxing for $ $9m , said the funding will be used to deploy an initial 20,000 bikes, eventually rising to a total of 100,000 . Yellow also plans to add e-scooters and e-bikes to its fleet in the future.
Brazilian start-up Yellow has raised $9m in seed funding for its dockless bicycle hire service, aimed at reducing emissions and improving traffic flow. Founders Ariel Lambrecht and Renato Freitas, who recently sold their ride-sharing service 99 to Chinese giant Didi Chuxing for $1bn, said the funding will be used to deploy an initial 20,000 bikes, eventually rising to a total of 100,000. Yellow also plans to add e-scooters and e-bikes to its fleet in the future.