TOKYO -- China's two biggest bicycle-sharing startups are en route to Japan, with Mobike kicking off service Wednesday in the northern city of Sapporo while rival Ofo readies to roll in Tokyo and Osaka next month.
Chinese internet powerhouses have backed the overseas expansion of these businesses. Mobike raised $600 million from a group of investors led by Tencent Holdings in June, while Ofo recently secured $700 million from companies such as Alibaba Group Holding.
