Home / Tech News / Lime is reportedly trying to squeeze up to $500 million out of VCs

Lime is reportedly trying to squeeze up to $500 million out of VCs


Lime, the electric scooter and bike company, is looking to raise up to $500 million in new funding, Axios reports, citing sources. The round could come in the form of both equity and debt, according to Axios.

To date, Lime has raised $132 million from investors. Its most recent round was just in February, when it raised $70 million from Fifth Wall. I’ve reached out to Lime about this potential new round and will update this story if I hear back.

Earlier this month, Lime announced a partnership with Segway to build version two of its electric scooters. Lime, along with its competitors Bird and Spin, all ultimately rely on Ninebot, a Chinese scooter company that has merged with Segway. Ninebot is backed by investors including Sequoia Capital, Xiaomi and ShunWei.

Without taking into account Lime’s potential round, here’s where Lime compares to Bird and Spin.

The electric scooter space has been under scrutiny as of late — partly due to the fact that Bird, Spin and Lime deployed their respective scooters without explicit permission in San Francisco back in March.

Less than one month ago, the San Francisco Municipal Transportation Authority announced its permitting process for electric scooters. You can read more about that here.

And if you want the full breakdown of what the deal is in San Francisco as it pertains to electric scooters, here’s the story.



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About admin

I'm a 50 year old PLC programmer from Burnley, UK. I severed my time as an electrician in the baking industry and soon got involved with the up and coming technology of PLC's. Initially this was all based in the Uk but as the years went by I have gradually worked my way around the globe. At first it was mainly Mitsubishi with a bit of Modicon thrown in but these days the industry leaders seem to be the Allen Bradley range of PLC and HMI’s.

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