Uber is with GV in an investment into scooter heavyweight . The will bring Lime鈥檚 aggregate funding to $467 million and its valuation to a $1.1 billion.
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Users will be able to rent Lime scooters from within the Uber app, and Uber鈥檚 branding will be added to all Lime scooters. The report also noted that Uber鈥檚 CEO, Dara Khosrowshahi, envisions Uber鈥檚 app becoming a hub of transportation services.
The funding announcement comes as the latest of many for the scooter sector. Lime鈥檚 main competitor, , officially closed its recently, pushing its valuation from just $300 million in March to $2 billion in June.
In total, across all leading platforms, including the much-less-mentioned (with only $8 million in known funding), dockless electric scooter companies have raised nearly $900 million, as the following chart shows:
Its Lime investment isn鈥檛 the first time that Uber has reached into other transportation verticals. The company acquired Jump, an electric bicycle company, in June. And Lyft, Uber鈥檚 main U.S. competitor, purchased bikesharing startup Motivate in a deal announced last week.
Becoming a hub for transportation is not an uncommon approach If you follow companies in China. China鈥檚 ride hailing giant (which coincidentally beat Uber in China) and online-to-offline heavyweight have similarly aimed to dominate all verticals within their respective industries. That vision of becoming a transportation superapp is, therefore, not unprecedented or too far out of reach.
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