As part of the investment, Lime has acquired the business of Uber's micromobility subsidiary called Jump and will further expand its mobile app integration with Uber. In almost all markets where Lime and Uber operate, users will be able to turn to both the Lime and Uber app to unlock products and services, according to the announcement.
This investment reaffirms Lime's market strength and positions the company to build a long-lasting business, the company said.
"We believe micromobility is a critical part of the urban landscape, now more than ever," said Dara Khosrowshahi, CEO of Uber.
"Micromobility will be vital to the new world affected by COVID-19 and we are already seeing this as cities begin to move again. With our new financing and expanded offerings, we are strongly positioned to meet the needs of riders in a safe and reliable way," said Wayne Ting, CEO of Lime.
"Lime has pioneered and become the global leader in micromobility, powering over 130 million rides in a few short years with the vision of making our cities greener and more livable," said Brad Bao, Lime's co-founder and chairman of the board.
Lime, formerly known as LimeBike, rebranded in 2018 as the current name to emphasize its expansion as a multimodal smart mobility provider.
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