"On-demand electric scooter and bike startup Lime announced that it has closed a $310 million series D financing round led by Andreessen Horowitz, Bain Capital Ventures, Fidelity Investments, GV and IVP. It values the company at a whopping $2.4 billion — double the previous valuation of $1.1 billion.

Lime is positioning itself as an “affordable” alternative to traditional means of last-mile transportation — it claims that 34 percent of its riders report an annual income of less than $50,000. And it credits that affordability with its mobile app’s rise to the top of download charts in New Zealand, Czech Republic, Austria, Poland, France, Portugal, Greece, and Spain.

Its partnerships likely have something to do with it, too. In June, Uber said it would begin renting Lime’s scooters via its app, in addition to investing in the startup. And more recently, in December, Lime integrated with Google Maps in over 20 cities." - Prachir Singh

(Source: Venture Beat)

Lime Raises Another $310 Million, Bringing Its Valuation to $2.4 Billion

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