San Mateo, California-based Lime, the fast-growing provider of electric scooters and bikes for short-term rentals, announced it has raised $310 million in Series D financing at a $2.4 billion valuation. A group of returning backers and new investors, Andreessen Horowitz, Bain Capital Ventures, Fidelity Investments, GV and IVP, led the round.The company said it will use the funding for expansion in new markets, technology enhancements and investments in rider safety and city collaboration.
Source: Blog post from Lime CEO and Co-Founder Toby Sun.
Correction: The above headline and summary were corrected to mention that a group of investors led the round. In addition, Lime’s blog post and the summary above were updated to include DCM Ventures as a returning investor.