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by Shane Stokes
December 8, 2017
Bora-hansgrohe unveils new-look team kit for 2018, Denk names ambitious goals; Quick-Step Floors unveil 2018 jersey; Contador undergoes operation to repair damaged tendon; Trek announces title sponsorship of the Drops Cycling Team; Extended sponsorship and new women’s race for Jayco Herald Sun Tour; UCI statement concerning audit within the Polish Cycling Federation; Sinkewitz given additional four year ban for competing while suspended; U.S. amateur cyclocross racer accepts six-month sanction for cannabis violation; Ofo given a further $1bn by investors; Video: Colle del Nivolet (Locana) – Cycling Inspiration & Education; Video: 2017 Rapha Supercross Nobeyama Elite Men Day One
Dockless rental bike company Ofo has received a boost to its plans to continue its expansion into the US and Europe, receiving an additional $1 billion in investments. The boost in venture capital follows on from the £541m it raised in July.
The Financial Times states that the existing investors are behind the latest cash injection. The company has thus far peppered Chinese cities with 10 million bikes and, by the end of 2017, hopes to have double that in 200 cities across 20 counties.
Click through to read more at BikeBiz.