Uber has made an investment in electric scooter rental company Lime with the goal of offering a new transportation mode to its users all over the world. Google’s parent company, Alphabet Inc., has also done the same thing after seeing the potential of Lime.
Lime revealed Monday that it has raised $335 million from a group of investors that includes Uber and Alphabet. The investment round was led by GV (formerly called Google Ventures). On top of existing investors, other new investors that participated in the round were revealed to be IVP, Atomico and Fidelity Management and Research Company.
“The new funds will give us the ability to expand our operations globally, develop new technologies and products for consumers and build out our infrastructure and team,” Lime said in a blog post. The firm disclosed that Uber made a sizable investment, so it is making the ride-sharing company a “strategic partner in the electric scooter space.”