Date
21 October 2018
Lime and Uber are said to be working to co-brand Lime’s scooters and make the service available on the Uber app. Photo: Reuters
Lime and Uber are said to be working to co-brand Lime’s scooters and make the service available on the Uber app. Photo: Reuters

Uber, Alphabet invest in bike-sharing service Lime

Bike sharing service Lime has raised US$335 million from a group of investors that included ride-sharing firm Uber Technologies and Google parent Alphabet.

The investment round was led by GV, formerly Google Ventures, and the other new investors including IVP, Atomico and Fidelity Management, Reuters reports, citing a blog post from Lime.

Lime’s existing investors, including Andreessen Horowitz and Singapore’s GIC, also participated in the latest funding round.

Uber will work with Lime as a strategic partner in the electric scooter space with the firms working to co-brand Lime’s scooters and make the service available on the Uber app, the report said.

The latest investment round values California-based Lime at US$1.1 billion, according to Bloomberg.

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.

Lime, which operates bike and scooter schemes in about 60 cities and university campuses in the US, has launched operations in the German cities of Berlin and Frankfurt and in Zurich, Switzerland.

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RC

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