Lime, the nine-year-old scooter and bike-share company, completed its initial public offering and raised $167 million. The company plans to use the funds to address approximately $1 billion in liabilities.
Lime's public debut comes after years of speculation about a potential IPO. The San Francisco-based micromobility company operates in over 600 cities worldwide, offering electric scooters and bikes as last-mile transportation solutions.
The $167 million raise addresses significant financial obligations the company has accumulated during its rapid expansion. With roughly $1 billion in liabilities on its balance sheet, Lime faces pressure to demonstrate profitability and sustainable unit economics.
The IPO marks a turning point for the micromobility sector, which has faced criticism over operational losses and regulatory challenges. Lime's path to profitability will likely influence investor appetite for other similar companies considering public markets.
The company competes with rivals including Bird and Spin in a crowded market where regulatory frameworks continue to evolve across different cities and regions.
Miles Wang, an OpenAI researcher focused on AI-accelerated scientific discovery, is departing the company to start a new AI drug discovery venture. The startup is in talks to raise $200 million at a $2 billion valuation.
Hadrius, an NYC-based fintech startup, secured $22 million in Series A funding led by CRV with backing from Y Combinator. The company provides AI-native compliance software for financial services firms.
InstaLILY, an enterprise automation startup, has raised $60 million in Series B funding led by Energize Capital, bringing its total funding to nearly $100 million.
Adapter, an infrastructure platform enabling AI agents and applications to leverage and control data, has emerged from stealth with $17.8 million in funding led by GV.