(Reuters) - Chinese bicycle sharing startup Hello Inc, which is backed by Jack Ma’s Ant Group, is trying to raise funds at a lower valuation, just a month after scrapping its U.S initial public offering plans, Bloomberg News reported on Wednesday. The company is seeking to raise between $100 million and $300 million in a private funding round, the report here said, citing people familiar with the matter. Hello, which offers two-wheeler services and operates a carpooling marketplace in China, said in July it was scrapping its IPO in the United States, against the backdrop of a regulatory crackdown on U.S.-listed Chinese companies. (reut.rs/3heiScX) Hello did not immediately respond to a Reuters request for comment. Reporting by Eva Mathews in Bengaluru; Editing by Saumyadeb Chakrabarty Our Standards: The Thomson Reuters Trust Principles.