The funding has helped the company launch its fourth-generation e-bike and expand its physical footprint to include the boroughs of Hackney and Hammersmith and Fulham. According to Lime, the use of its e-bikes grew 117% in the first six months of the year.
Lime CEO Wayne Ting told the Standard: “As people come out of the pandemic, they look for new ways to move.
“London has been a leader in thinking about transformative transport policies – I don’t know of any other major city implementing anything of this magnitude.
“This year will be the best year ever. We now have the largest warehouse of any micromobility company in London and we are on our way to long-term profitability.”
E-bike companies such as Lime have come under fire in recent months over allegations that their rental bikes created an “obstacle course” for residents because they don’t require the user to return the bike to a dock at the end of the rental. meaning they are left wherever the user ends their journey.
In August, Westminster Council began seizing dockless rental bicycles blocking sidewalks and roads, with a Westminster councilor describing the problem of discarded bicycles as “potentially dangerous, especially for people with disabilities”.
However, Ting said the problem of the sidewalks full of bicycles was due to a lack of cycling infrastructure in the capital.
“We can always do better to make sure our bikes don’t block the streets, but we don’t have enough places in the city to park our bikes on the street,” he said.
“People complain to me on social media that an e-bike is blocking their street, but directly behind that bike, hundreds of cars take up much more space.
“Why don’t we take one-tenth of the 6.8 million parking spaces and turn them over to bicycle sheds instead.”