Motorcycle wars are under way.
Lime announced on Monday a new $ 335 million financing round led by Google Ventures of Alphabet. This is after his rival, Bird, announced less than two weeks ago that he received $ 300 million in new funds.
Along with Google Ventures, Lime also confirmed that Uber participated in this round of financing. The company that travels on horse also plans to partner with Lime to start renting scooters through its application.
"Our investment and partnership in Lime is one more step towards our vision of being a one-stop shop for all your transportation needs," Rachel Holt, Uber's head of new modalities, said in an e-mailed statement. "Lime already has an expansive footprint, and we are excited to incorporate their scooters into the Uber app so that consumers have another quick and affordable option to get around their city, especially to and from public transportation."
Scooters have become a controversial issue as they seize more and more cities across the United States. While regulators are rushing to write laws on the new form of transportation, many people say that they love being able to move from block to block in congested cities. Other residents complain that drivers do not follow the laws of the road and endanger pedestrians by walking on sidewalks and leaving scooters where they wish, blocking parking spots, bike racks and wheelchairs.
is on board with the scooter phenomenon. The scooters companies have raised funds at a dizzying pace. Bird became the fastest startup to become a unicorn, with a valuation of more than one billion dollars, with its latest round of financing. And now Lime has joined that club of billion-dollar startups as well. To date, Bird has raised $ 418 million and Lime has raised $ 467 million. Both companies were founded in 2017.
Bird's CEO, Travis VanderZanden, has a complicated relationship with Uber and Lyft . He founded the cherry car washing company, which was later acquired by Lyft in 2013. With the acquisition, he became Lyft's director of operations. He was arrested by Uber the following year, causing a scandal when Lyft sued him for allegedly stealing confidential information. The two sides resolved the claim in June 2016. Then, Vander Zanden left Uber in September 2016.
Uber did not disclose how much he is investing in Lime, but Lime said it is "considerable". With Uber and Lime as strategic partners, the scooters will be co-branded and will be available in the Uber application. Uber launched a similar badociation with Jump bicycles in January and finally acquired bike rentals without a dock in April.
While Lime and Bird lead the electric scooters package, several other companies appear to be involved . Lyft has said that it looks for profitable scooters, like Scoot, Razor, Ofo, Ridecell, Uscooter, Skip and CycleHop.
Lime is now in more than 70 cities in the US UU And Europe and has given six million trips through its network of electric scooters, electric bicycles and pedal bicycles. Along with Uber and Google Ventures, other investors in the new round of financing for Lime include Alphabet, IVP, Atomico and Fidelity Management and Research Company. With this additional cash, Lime said he plans to continue expanding.
"As we continue to expand the limits of urban transportation, we are delighted to work with our new partners, along with our pbadengers and cities, to bring the next chapter into this emerging narrative for life," the co-founders of Lime, Toby Sun and Brad Bao said in a statement.
Published for the first time on July 9 at 9:31 a.m. PT.
Update, 12:16 pm: Add additional investors in the new round of financing for Lime.
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