E-scooter Startup Bird Raises $150 Million

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bird scooter

Bird, the e scooter platform developed by former Uber and Lyft executive is soon becoming a unicorn company as they raised a massive $100 million funding in Series B round which soars the valuation of the firm at 300 million.

Sequoia Capital is leading the funding round. With the massive funding, Bird can become the leader in the industry but will face challenges from players like Lime and Spin. Jump has been acquired by Uber who will not let Bird run away easily for sure.

Notably, Lyft is also in the middle of raising massive funding too but not before Bird becomes the first unicorn business in the sector. While Lime has already raised $132 million and continue to look for more finance.

Bird scooter app

Interestingly, all the e-scooter company's running in the San Francisco will have to remove their scooters from the streets by June 4 and they can only redeploy the same once the San Francisco Municipal Transportation Agency allows them to do that. As per reports, the authorities will confirm their decision by mid-June.

However, as per a report on website Fortune, when the company will officially break the news of its funding, the amount can be well over $150 million. And with just one year into their existence, the firm is well on their way to gain the status of fastest unicorn company.

Notably, there have been claims that the e-bikes of the above mentioned companies have been occupying the sidewalks in the cities like Las Angeles and San Francisco where the company has already paid a hefty fine for rule violations. So things might not be as easy as it sounds.

 

Image Courtesy : BusinessInsider,santamonicacentric

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