Investors pour $310 mln into electric scooter maker Lime at $2.4 bln valuation

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. Existing investors Alphabet, Coatue Management, Fifth Wall Ventures, DCM Ventures, GGV Capital, Singapore’s GIC and others also joined the round with several new investors, including GSV Capital, FJ Labs, Bling Capital, Europe’s GR Capital and St. Augustine Partners. 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.