Uber leads $170 million investment in scooter company Lime

Uber leads $170 million investment in scooter company Lime
  • Uber is leading a $170 million investment round in Lime, the electric scooter and bike rental company announced Thursday.
  • Bain Capital Ventures, Alphabet and separately its venture capital arm GV are also participating in the financing round.
  • Under the deal, Uber will transfer its own electric bike and scooter division called Jump to Lime and the companies will further integrate their apps.
  • The announcement comes after a turbulent couple of months for urban transportation. The pandemic-driven global lockdown has decreased demand for scooters and ride-hailing services.