$2.4 billion scooter startup Lime is raising more money, and its next check could come from SoftBank

Toby Sun Top 100Cayce Clifford/Bloomberg via Getty Images

  • $2.4 billion scooter and bicycle startup Lime is raising another round of funding just months after announcing its $300 million Series D, according to two people familiar with the matter.
  • The fundraising round is in the early stages, and nothing is set, but the company could raise as much as $500 million, the people said.
  • The Japanese super fund SoftBank is among the possible investors, the people said.
  • Read more stories from Business Insider Prime here.

Lime, the $2.4 billion scooter and bicycle startup, is raising another mega funding round, just months after announcing its $300 million Series D, according to people familiar with the matter.

The two-year-old company, whose green and white electric scooters can be found on public sidewalks from Oakland to Auckland, could raise as much $500 million, the people said.

The company has spoken with multiple possible investors, including the deep-pocketed SoftBank Vision Fund, they said.

The people cautioned that since Lime is in the early stages of fundraising, the final amount it's seeking to raise could shift down the road.

Representatives for Lime and SoftBank did not immediately respond to requests for comment.

Read more: Tech companies have raised billions of dollars from outside of venture capital like Fidelity and T. Rowe - but there's a costly downside as these investors pile on

Scooters Lime Bird Santa MonicaPeople ride Lime and Bird scooters along the strand in Santa Monica, Calif. The shared electric scooters could be banned in Los Angeles until regulations are approved and permits are issued. A motion by a Los Angeles Councilman would tell city officials to take all available measures to ban scooters in LA and issue cease-and-desist letters to scooter companies. Santa Monica police have cracked down on flagrant violations. (AP Photo/Richard Vogel)AP Photo/Richard Vogel

The race for cash continues as Lime fights for market share against Bird, its biggest competitor in the space.

Like Lime, Bird has taken hundreds of millions of dollars in venture capital since it launched in 2017. Bird is in talks to raise a new round led by Sequoia Capital, which would value the company at $2.5 billion, according to the New York Times.

SoftBank previously met with both Bird and Lime about fundraising, Bloomberg reported in October.

Lime announced its $300 million Series D in February, with backing by Bain Capital Ventures, Alphabet's GV, IVP, and Andreessen Horowitz.

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