Two of China's biggest bike-sharing platforms have secured millions of US dollars from the country's tech giants. 

Shanghai's MoBike raised a 100 million US dollars funding from partners like internet giant Tencent Holdings. Beijing-based oFo also secured 130-million US dollars from investors including ride-hailing app Didi and smartphone maker XiaoMi.

Bike-sharing has been considered an efficient way to beat traffic jams on China's clogged streets and is expected to be the next big thing.