Qingju Funding, Investors & Competitors

Qingju has raised $1.6B across 2 funding rounds, most recently a $600M Series B in February 2021.

Last Qingju funding round

$600M

Series B · Feb 2021

Cumulative funding Qingju raised

$1.6B

across 2 funding rounds

Key investors in Qingju

Qingju Overview

About Qingju

Qingju is a China-based bike-sharing service and platform. As a division of Didi Chuxing, it operates e-bikes for long-distance transportation. Vehicles include GPS tracking and a proprietary smart Drum Brake Lock System controlled via software and Bluetooth for automatic locking and unlocking, addressing disorderly parking issues.


Founded

2018

HQ

ChinaChengdu

Status

Privately held

Customer focus

B2C

Revenue model

Usage-based

Qingju Funding History

Qingju has raised a total of $1.6B across 2 funding rounds.

Qingju's first fundraising round was a $1B Series A in April 2020. The most recent completed round was a $600M Series B in February 2021.

Qingju funding rounds

Qingju funding rounds
DateStageInvestorsRaisedDeal Summary
Feb 2021Series B-$600MQingju, Didi Chuxing's bike-sharing subsidiary launched in 2018 in Sichuan province, raised USD 600 million in a Series B equity round around February 2021, as reported in multiple sources including kr-asia.com. This followed a USD 1 billion Series A in April 2020 from Legend Capital and an unidentified overseas firm. The Series B also included USD 400 million in loans, with funds aimed at expanding electric bike operations in over 200 Chinese cities, targeting smaller markets where electric bikes are preferred. Qingju competes with Hello Bike and Meituan Bike in China's maturing bike-sharing sector, surviving unlike Ofo which collapsed in 2018 due to cash shortages. Didi's CEO targeted 100 million daily mobility orders worldwide, with Qingju expected to contribute 40 million daily, amid Didi's 60 million daily trips in 2020 across services.
Apr 2020Series ADiDi (lead); SoftBank Group; Legend Capital$1BQingju, Didi Chuxing's bike-sharing arm launched in 2018 in Sichuan province, raised $1 billion in April 2020 from Legend Capital and an unidentified overseas investment firm. The funds supported expansion into smaller Chinese cities with a focus on electric bikes over pedal bikes, reaching service in over 200 cities. Qingju competes with Hello Bike and Meituan Bike in China's maturing bike-sharing market, which saw Ofo collapse in 2018 due to cash shortages. Didi aimed for Qingju to handle 40 million daily orders as part of its 100 million global mobility target.

Who has invested in Qingju?

3 investors have backed Qingju across its funding rounds, including SoftBank Group, Legend Capital and DiDi.

Lead investors include DiDi.


Qingju Investors

Investors in Qingju by funding rounds participated
InvestorHQRoundsRoleFirst check
SoftBank GroupJapanTokyo1ParticipantApr 2020

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Qingju Competitors

Qingju competitors include listed companies like VinFast, Lyft and Ninebot, and private ones like Enilive, Bolt and ofo.

Public and private companies comparable to Qingju
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
EniliveItalyRomePrivate--$14B-
BoltEstoniaTallinnPrivate$592M-$8.3B-
VinFastVietnamVietnamPublicly listed$3.5B($2.7B)$7.6B3.0x
LyftUnited StatesUnited StatesPublicly listed$6.3B$103M$5.9B0.8x
NinebotChinaChinaPublicly listed$3.2B$335M$4.1B0.7x
ofoChinaChinaPrivate--$3B-

Qingju Public Comps

Qingju is still privately-owned, but its public comps include VinFast, Lyft, Ninebot, Aima Technology Group, Lime, Bajaj Mobility, Youon Technology, Piaggio, Phoenix Bicycle and BiNBiN.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
VinFast$3.5B($2.7B)4.1x3.0x(5.2x)(6.4x)
Lyft$6.3B$103M0.8x0.8x52.0x8.2x
Ninebot$3.2B$335M0.8x0.7x7.6x7.0x
Aima Technology Group$3.7B$422M0.6x0.6x5.3x6.0x
Lime$887M$87M2.2x-22.2x-
Bajaj Mobility$1.2B$1B1.8x-2.0x-
Youon Technology$61M($17M)6.2x-(22.7x)-
Piaggio$1.7B$284M0.8x0.7x4.7x4.5x

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Common questions about Qingju

When was Qingju founded?Qingju was founded in 2018.
Where is Qingju headquartered?Qingju is headquartered in Chengdu, China.
Is Qingju publicly listed?No, Qingju is a private, VC-backed company.
How much funding has Qingju raised?Qingju has raised $1.6B across 2 funding rounds.
What was Qingju's last funding round?Qingju's last funding round was a $600M Series B in February 2021.
Who are Qingju's investors?Qingju's investors include SoftBank Group, DiDi and Legend Capital.
Which companies are comparable to Qingju?Companies comparable to Qingju include Enilive, Bolt, VinFast, Lyft, Ninebot and ofo.

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