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Lime's Next Chapter In Smart Mobility Backed By GV And Uber

Jul 9, 2018 11:38:16 AM / by Toby Sun


The Lime Story

 

When we began our journey in 2017, the mission was clear: create an accessible and affordable micro-mobility solution to improve the way people experience first and last mile transportation.

From Key Biscayne, Florida to more than 70 markets across the United States and Europe in just 12 months, our growth has allowed us to understand and adapt to the needs of a diverse community of riders.

We were the first company to accept cash payments and give access to those without smartphones; we were the first, and remain the only, company to partner with the U.S. military; we hire local operations teams in all of our markets, establishing seamless cooperation with our crowd-sourced contractors; and we work closely with cities before and after we enter new markets to ensure an optimal user experience.

As we surpass six million rides later today, Lime’s multimodal fleet of e-Scooters, e-Bikes and pedal bikes has helped to offset more than 2,375 tons of CO2, establishing us as a critical player in the global push towards smarter cities and a cleaner, more connected planet.

 

New Lime Funding + Partner

 

Today, we are excited to announce that Lime is raising $335 million to continue on this journey.

The round was led by GV, and Joe Kraus will take a seat on our board. Other new investors include Alphabet, IVP, Atomico and Fidelity Management and Research Company. Our existing investors, Andreessen Horowitz, Coatue, Fifth Wall and GIC, Singapore Sovereign Wealth Fund also participated in the round. The new funds will give us the ability to expand our operations globally, develop new technologies and products for consumers and build out our infrastructure and team.


lime-gv-uber-smart-mobility-1

In addition, Uber is joining the current round, making a sizable investment. Uber will work with us as a strategic partner in the electric scooter space to offer people a greater variety of transportation modes at their fingertips and make it increasingly easy to live without a car.

As electric scooters grow in popularity and become a more beloved way to travel short distances, the partnership adds to Uber’s vision of becoming a transportation platform for people around the globe. We are working to co-brand our scooters and make Lime available in the Uber app, with more news to follow. We could not be more thrilled about this partnership and what it brings to riders everywhere.

 

Looking forward

 

While these developments will inevitably bring exciting changes going forward, one thing will always remain the same. At its core, Lime isn’t a story about bikes or scooters or even smart mobility. Rather, it’s a story about movement.

Movement across cities and college campuses; movement between socioeconomic divides; movement from a culture of consumerism and environmental degradation to one of conservation and social responsibility.

As we continue to push the boundaries of urban transportation, we’re thrilled to work with our new partners, along with our riders and cities, to bring the next chapter in this emerging narrative to life.

 

Ride on!

 

Toby Sun and Brad Bao
Co-founders