Our investment in Lime: maximising micro-mobility
Today, we’re delighted to announce our investment in Lime. Led by co-founders Brad Bao and Toby Sun, Lime is an organisation driving behavioural change at mass scale and lightning speed.
We set out to back founders who can address the world’s biggest challenges, and improve the way we live. Moving more people more frequently, decongesting cities, and improving air quality for those who live there, are certainly monumental challenges. Lime’s e-bikes and scooters tackle them in a sustainable, affordable, and convenient way.
At Atomico, as mobility continues to be disrupted, we are looking to back multiple solutions – especially if consumers love it and it is better for the city too. One of those areas is micro-mobility.
The ability to unlock, jump on and off Lime’s distinctive electric scooters anywhere is already delighting city-dwellers in over 70 locations across the US. In San Francisco, each of the company’s scooters is used an average of nine times a day. It is clear the ‘form factor’ of the electric scooter is going to be a hit for shorter journeys where ride-hailing, public transport or even walking is not quite right.
The team has ambitious plans for European expansion, and we are proud to be their European investor as they scale to our continent. We’re joining the deal with other global investors GV, Andreessen Horowitz and Uber, whose excitement for Lime we share.
This is the ideal juncture for Atomico to partner with Lime. In the last decade, we’ve developed Atomico into a platform for sharing operational experience with our portfolio companies. We’re privileged to work with Brad and Toby, and excited to put our hard-won experience to work for Lime.