Lime simply introduced it has raised a $310 million Sequence D spherical. Led by Bain Capital, with participation from Andreessen Horowitz, Constancy Ventures, GV and IVP, the spherical values Lime at $2.four billion.
“This new funding demonstrates the basic power of our enterprise and the more and more fast adoption of Lime,” Lime CEO Toby Solar wrote in a weblog submit. “The brand new funds will give us the power to increase into new markets, improve our know-how, strengthen the staff and pilot new alternatives. We may also proceed investing in two vital areas: rider security and metropolis collaboration.”
In Might, Lime partnered with Segway to launch its subsequent era of electrical scooters. These Segway-powered Lime scooters had been designed to be safer, longer-lasting by way of battery energy and extra sturdy for what the sharing economic system requires, Solar instructed TechCrunch final 12 months.
However this partnership hasn’t been with out its points. In October, Lime recalled a few of its scooters on account of battery fireplace issues. The following month, Lime put $three million towards a brand new security initiative referred to as “Respect the Journey.” Security, on the whole, is a significant concern. In September, somebody misplaced their life after a scooter accident.
This brings Lime’s whole funding north of $800 million. Lime, which obtained its beginnings as a bike-share firm, has deployed its scooters in additional than 100 cities within the U.S. and 27 worldwide cities. Since June, Lime has greater than doubled the variety of cities the place it operates within the U.S. Lime has additionally partnered with Uber to supply Lime scooters inside the Uber app.