E-Scooter Startup Bird Is Raising Another $300M
E-scooter startup Bird is raising an additional $300 million at a flat $2 billion valuation.
E-scooter startup Bird is nearing a deal to raise an additional $300 million in an extension of its Series C funding round. The investment is led by Fidelity and values the company at a flat $2 billion pre-money, which matches the valuation from its previous $300 million round led by Sequoia in June.
This new capital injection brings Bird's total raised funds to over $400 million from major firms like Accel, CRV, Greycroft, Index, and Craft. However, the flat valuation highlights a cooling sentiment in the market, as many investors are losing faith in scooter startups due to poor unit economics, faulty batteries, and overall unreliability.
Meanwhile, competitor Lime is aggressively expanding its business model by launching LimePods, which are shareable vehicles currently available in Seattle. Lime is also reportedly seeking $400 million in new funding at a higher $3 billion valuation, showing a stark contrast in growth strategies and investor confidence within the shared mobility space.