Culture / Newsy

Electric Scooter Startup Raises $335 Million as Troy Aikman Wonders What’s Happening on Dallas’ Streets

Is This Big Money Craze Going to be a Smooth Ride?

BY // 07.09.18

Lime, the dock-free bike and electric scooter sharing company, has reached another important landmark. As of Monday, Lime has confirmed it has raised a whopping $335 million in venture capital, bringing its total amount raised to $467 million.

Uber also revealed it is investing in Lime and the ride-sharing giant will offer Lime scooters for rent on its app. Other new investors include Alphabet (Google’s parent company), IVP, Atomico and Fidelity Management and Research Company.

The new funds seem to solidify the future of this ambitious two wheel mobility startup, which put its scooters on the Dallas streets last week. Dallas Cowboys legend Troy Aikman is already not a fan.

Nevertheless, Lime scoots on. In addition to the continued expansion of operations across the United States and Europe, Lime aims to develop new technology and create simplified apps to make the renting experience a walk in the park – or should we say, ride.

Since 2017, Lime founders Brad Bao and Toby Sun made their mission clear: to create an affordable and easily accessible mobile-mobility platform that makes life without a car increasingly easier. Since then, and with more than six million rides, Lime’s electric scooters, bikes, and pedal bikes have offset more than 2,375 tons of CO2, according to the company.

“At its core, Lime isn’t a story about bikes or scooters or even smart mobility. Rather, it’s a story about movement,” the founders say in a statement. “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.”

Now, this is movement with a lot of cash to push it forward.

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