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LimeBike raises $70 million

E-scooter startups may change urban transportation

Bike-sharing startup LimeBike raised an additional $70 million from its previously announced $50 million Series B round. This brings LimeBike’s total funding to $132 million, according to a company press release.

Real Estate Angle: Fifth Wall Ventures’ Brendan Wallace, one of the investors, told TechCrunch: “We’re interested in bike-sharing because it’s something real estate owners really want.” With competitors like Spin, JUMP, Ofo, Motivate, the space is crowded and competition for market share is fierce.

Vision: Real Estate tech investors envision a world in which there are LimeBike-specific parking lots or hubs located outside office buildings. With this infusion of capital, LimeBike will expand in cities where both parking and car ownership are on the decline.

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