A sustainability pledge is at the heart of a new $523 million investment round into Lime, the mobility bike and e-scooter platform.
The U.S.-based company has received the capital from ADG, Fidelity, Highbridge and fellow ground transportation provider Uber.
Lime claims the latest round was oversubscribed and it comes 18 months after a $170 million venture round, also from Uber in the lead role.
Some $1.5 billion has now been raised by since its launch in 2017.
The capital will be used to develop more of its electric bikes and e-scooters, alongside efforts to "decarbonize" its supply chain of partners.
It also hopes to go on the public markets during the 2022, according to CEO Wayne TinLing.
Lime says $20 million of the investment will be used in its strategy to advance sustainable initiatives in line with the Paris Climate Accord policies.
Uber CEO Dara Khosrowshahi says: "Everyone at Uber has been impressed by Lime’s ability to consistently improve its balance sheet, and we’re confident that this leadership team has the vision and ability to take Lime to new heights, as cities and their residents increasingly rely on bikes and scooters for local travel.”
Lime currently has a fleet of 200,000 vehicles and, during 2021, launched in 80 new cities.
* Check out this interview with Lime's Brad Bao, recorded for the How I Got Here podcast in October 2020.
How I Got Here, episode 47 - Brad Bao of Lime