Uber Technologies leads $170 million investment round for bike-sharing start-up Lime

Platform Industry: CEO of the ride-sharing company Uber Technologies

Bike-sharing service provider Lime has announced that it raised $170 million in an investment round led by Uber Technologies Inc. Other participants in the round included the likes of Alphabet Inc, Bain Capital Ventures and GV.

As a part of the investment, Lime acquired electric bicycle service JUMP Bikes, which was bought by ride-hailing company Uber in 2018, the company said.

Lime also said it promoted its global operation head Wayne Ting to CEO.

The company had previously raised some $335 million from a group of investors in 2018, which also included Uber Technologies and Alphabet.

Via our content partners at Reuters. Reporting by Ayanti Bera in Bengaluru. Editing by Rashmi Aich.

Related Article:
YouTube bans masthead ads for politics, alcohol and bets
Share this article