Google, Uber lead $335M investment in Lime

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July 9 (UPI) — Several investment groups, including Google Ventures and Uber, have invested $335 million into Lime, a scooter rental startup, the company announced Monday.

In addition to Google and Uber, IVP, Atomico and Fidelity Management and Research Company joined in the investment 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 said in a statement.

Uber and Lime will also work as “strategic partners” and hope to eventually make Lime’s scooters available via the Uber app.

“Our investment and partnership in Lime is another step towards our vision of becoming a one stop shop for all your transportation needs,” Rachel Holt, Uber’s head of new modalities, said in an emailed statement to CNET. “Lime already has an expansive footprint, and we’re excited to incorporate their scooters into the Uber app so consumers have another fast, affordable option to get around their city, especially to and from public transit.”

Last month, Lime became the second scooter startup to attain a valuation worth more than $1 billion. The first to do so was Bird, which is now valued at $2 billion.

Both companies are less than two years old.


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