Uber has made a significant investment in the startup that has a presence across 70 US markets. Lime is currently preparing for its debut in Europe and will be launching its e-bikes in Paris. Both the companies, however, did not mention the cities where this new partnership will be seen first. Based on this deal, Uber users can now book a Lime bike through the Uber app. Uber also plans to have its logo on Lime bikes.
Related: Uber accelerates its ride-hailing services with the buyout of e-bike startup JUMP
In April this year, Uber officially entered into the bike-sharing business with the acquisition of the dockless e-bike startup JUMP. In June, Uber and its rival Lyft had even applied for the e-scooter permit in San Francisco, along with Lime, Bird, and Spin. According to the new guideline, only five companies would be allowed to operate 500 e-bikes in the city. As Lime rushes to raise money, it’s rival Bird races to be the first electric scooter unicorn. Bird, often referred to as the Uber of scooters, raised $300 million in its latest round of funding that values the company at $2 billion.