May 15, 2018 - Energy & Environment
Lime is raising up to $500 million as e-scooter wars heat up
Lime, one of the startups filling sidewalks with electric scooters, is raising up to $500 million in new funding, possibly via a combination of equity and debt, Axios has learned from multiple sources.
Why it matters: With the recent scooter craze, rival startups like Lime, Bird, and Spin are seeking to build giant war chests.
- Lime is still meeting with prospective investors, so the final round amount could vary.
- The debt piece may take the form of vehicle financing.
- Like rival Spin, Lime got its start with bike-sharing (traditional and electric), but has quickly shifted its attention to scooters.
- Lime raised $70 million in February, bringing its total funding to more than $130 million.
The story has been updated to clarify that Lime has both traditional and electric bikes.