Ofo and another Beijing start-up, Mobike, realized that by equipping bikes with GPS and digital locks, commuters could use their phones to rent bikes, freeing them from fixed docks. 

【翻译】Ofo 公司和北京另一家新开办的Mobike 公司意识到，通过给自行车配备GPS和数字锁，乘车人可以用手机租用自行车，使自己不局限于从固定的停车点用车。

【分析】Ofo and another Beijing start-up, Mobike,（主语） realized （谓语动词）that by equipping bikes with GPS and digital locks, commuters could use their phones to rent bikes, freeing them from fixed docks. （宾语从句）

宾语从句分析：

by equipping bikes with GPS and digital locks,（方式状语） commuters （主语）could use （谓语动词）their phones（宾语） to rent bikes（目的状语）, freeing them from fixed docks.（结果状语）