Tuesday, May 17, 2022

Electric Scooter Startup Lime raises $523 million

The electric scooter and e-bike sharing provider Lime has raised 523 million US dollars in an oversubscribed financing round. With the fresh capital Lime wants to bring its vehicles to more cities. The Company is also planning to go public in 2022.

ADG, Fidelity and Highbridge as well as the ride-hailing company Uber participated in the financing round. The exact amount of the respective investments and shares has not been disclosed.

How to use Lime / Company Presentation

Part of the money will be used to push the introduction of the Gen4 e-bikes, which were presented in March.

Lime has not yet announced specific cities or numbers of units. In addition, the capital will be used to drive innovations that further decarbonise Lime’s supply chain and ensure that the company always put “the most sustainable hardware on the road,” says the micromobility company.

“This oversubscribed round is a testament to the strong business we’ve built and the overwhelming confidence we’ve received from the financial community,” said Lime CEO Wayne Ting. “This investment secures our path to take Lime public in 2022 and will allow us to double down on our newest generation of e-bikes and e-scooters, as well as additional modes, to ensure people have reliable access to affordable, shared, carbon-free transportation.”

This statement from the company’s CEO does raise the question of just what it has in mind in terms of other transport modes.

See also  European micro-mobility Startup Dott raises $70m
Hi I'm Leanne. I'm a big fan of electric cars (drive a Model 3 myself) and support the movement to go electric! I hope you enjoy my Articles here on the website.
Latest news
Related news


Please enter your comment!
Please enter your name here