Uber leads $170 million investment round for bike-sharing startup Lime

Bike-sharing service provider Lime said on Thursday it raised $170 million in an investment round led by Uber Technologies Inc, with Alphabet Inc, Bain Capital Ventures and GV among other participants.

As a part of the investment, Lime acquired electric bicycle service JUMP Bikes, which was bought by ride-hailing company Uber in 2018, the company said.

Lime also said it promoted its global operation head Wayne Ting to Chief Executive Officer.

The company had raised $335 million from a group of investors in 2018, which also included Uber and Alphabet.