E-scooter startup Lime raises $523 mln, eyes going public in 2022

Urban mobility company Lime said on Friday it had raised $523 million from investors to scale up production of its latest e-scooters and e-bikes and its top executive said the startup is aiming for a stock market listing in 2022.

The San Francisco-based company said the money it had raised from convertible debt and term loan financing included fresh capital from ride-hailing company Uber (UBER.N), which became an investor in 2020. The funding round was “significantly oversubscribed,” Lime Chief Executive Officer Wayne Ting told Reuters…

Lime said its latest funds will go to scaling up its “Gen4” e-scooters and e-bikes that include “swept handlebars for a more comfortable ride”, additional reflectors to improve rider visibility and a swappable battery between both vehicles.