Bike sharing service Lime said it has raised $335 million from a group of investors, including ride-sharing firm Uber Technologies Inc. and Google’s Alphabet Inc. on July 9.
Uber will work with Lime as a strategic partner in the electric scooter industry, with the companies working to co-brand Lime’s scooters and make the service available on the Uber app.
The investment round was led by GV, formerly Google Ventures, and the other new investors included IVP, Atomico and Fidelity Management and Research Company, Lime said in a blog post.
This latest investment round will value California-based Lime at $1.1 billion, Bloomberg reported earlier on Monday.
However, Bird Rides, Lime’s rival, raised $300 million in June in a round led by Sequoia Capital, giving the company a $2 billion value.
Uber earlier this year agreed to buy electric bicycle service JUMP Bikes and was among the companies applying for a scooter permit in San Francisco in June.
Uber Will Soon Offer Scooter Rental Service After Teaming up With Lime
Friends Read Free
The investment round was led by GV, formerly Google Ventures, and the other new investors included IVP, Atomico and Fidelity Management and Research Company, Lime said in a blog post.
This latest investment round will value California-based Lime at $1.1 billion, Bloomberg reported earlier on Monday.
However, Bird Rides, Lime’s rival, raised $300 million in June in a round led by Sequoia Capital, giving the company a $2 billion value.
Hurricane Helene Barrels Toward Florida With Fierce Winds, Storm Surge
US Holiday Spending on Buy Now, Pay Later to Hit Record Due to Debt-Laden Shoppers
NASA Pushes Back Crew-9 Mission Launch to Saturday
Trump Advisers Meet Officials on UN Sidelines as US Election Approaches