Lime exactly announces that it has raised a $310 million Series D round. Resulted by Bain Capital Ventures, Andreessen Horowitz, Fidelity Ventures, GV and IVP, the round appreciates Lime at $2.4 billion.
” This new investment demonstrates the fundamental strength of our business and the increasingly rapid adoption of Lime ,” Lime CEO Toby Sun wrote in a blog post.” The new funds will give us the ability to expand into new sells, enhance our technology, strengthen the team and pilot new opportunities. We will likewise continue investing in two critical areas: rider safety and metropolitan collaboration .”
In May, Lime partnered with Segway to launch its next generation of electric scooters. These Segway-powered Lime scooters were designed to be safer, longer-lasting via battery power and more durable for what the sharing economy asks, Sun told TechCrunch last year.
But this partnership hasn’t been without its problems. In October, Lime recalled some of its scooters due to artillery attack concerns. The next month, Lime applied$ 3 million toward a brand-new safety initiative called “Respect the Ride.” Safety, in general, is particularly worrying. In September, someone lost their life after a scooter accident.
This brings Lime’s total funding northward of $800 million. Lime, which got its beginnings as a bike-share company, has deployed its scooters and motorcycles in more than 100 metropolis in the U.S. and 27 international metropolitans. Since June, Lime has more than doubled the increasing numbers of cities where it was present in the U.S. Lime has also partnered with Uber to offer Lime scooters within the Uber app.