Mobility Start-Up Lime Raises $335 M in a Round Led by Uber and Google Ventures

Mobility Start-Up Lime Raises $335 M in a Round Led by Uber and Google Ventures

Lime, an electric scooters and bikes sharing company has successfully raised $335 M in venture capital, bringing its total amount raised to $467 M. Founded about 18 months ago, the start-up is currently having a valuation exceeding $1 Bn, according to latest Bloomberg reports.

Leading investors in the latest round included Lime’s partnering company Uber and Google Ventures – the venture capital arm of Alphabet Inc. Former Lime investors Andreessen Horowitz and Singapore’s Sovereign Wealth Fund took part in this funding round as well.

“The new funds will give us the ability to expand our operations, develop new technologies and products for consumers and build out our infrastructure and team,” wrote in a post Toby Sun, the co-founder of Lime.

Mr. Sun also made a comment on the potential benefits from a partnership with Uber: “As electric scooters grow in popularity and become a more beloved way to travel short distances, the partnership adds to Uber’s vision of becoming a transportation platform for people around the globe. We are working to co-brand our scooters and make Lime available in the Uber app, with more news to follow. We could not be more thrilled about this partnership and what it brings to riders everywhere.”

The deal confirms increasing interest for investments in mobility sharing start-ups as in June 2018 Bird, the main competitor of Lime, managed to raise $300 M in its funding round.

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