Uber-Backed Bike Rental Company Lime and Investors Raise $174 Million in IPO

Neutron Holdings Inc., also known as Lime, and several of its shareholders have raised $174 million in a US initial public offering. 

As per the Bloomberg report, the Uber-backed electric scooter and bike rental company priced its shares at $25 each, the midpoint of its marketed price range of $24 to $26 per share. 

Lime Raises $174 Million Via IPO 

As per the report, Lime sold 6.68 million shares as part of the IPO, while existing shareholders sold an additional 276,731 shares. 

Among the shareholders participating in the offer were Chief Executive Officer Wayne Ting, President Joseph Kraus and Co-Founder Brad Bao. 

Lime’s Valuation Reaches $1.6 Billion 

As per the report, the IPO values Lime at approximately $1.6 billion based on its outstanding shares. 

The valuation marks a significant increase from the company's $510 million valuation during a 2020 funding round led by Uber. Lime had first explored the possibility of going public in 2021. 

Lime’s Business Operations and Financial Performance 

Lime operates electric scooters and bicycles for short-term rentals across more than 230 cities spanning five continents. 

The company reported 3.8 million monthly active users in 2025. According to its website, users in New York pay a $1 unlocking fee, followed by a ride charge ranging between $0.45 and $0.50 per minute. 

For 2025, Lime reported revenue of $886.7 million, compared with $686.6 million in the previous year. The company's net loss widened to $59.3 million in 2025 from $33.9 million in 2024. 

Uber To Remain Major Shareholder 

As per the report, following the IPO, Uber is expected to hold around 22% of Lime's outstanding shares, compared with 24% before the offering. 

Other investors in the company include an affiliate of Abu Dhabi-based investment firm Judan, Fidelity and Andreessen Horowitz. 

Read More: Ujin Pharma Files IPO Papers With SEBI; Fresh Issue, OFS to Fund Expansion and Debt Repayment! 

Conclusion 

Lime has successfully raised $174 million through its US IPO, achieving a valuation of about $1.6 billion. The listing marks a major milestone for the micromobility company as it continues expanding its global electric scooter and bicycle rental business. 

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