After raising $100 million a few months back, scooter startup has now officially raised $400 million again in less than 4 months. According to sources, the company now values at $2 billion.
The investors are literally pouring in money as the speed at which this startup is expanding and raising money is almost unreal. Investors are banking on electric scooters as the next ‘big thing’ in the transportation sector.
Also read: PARENT-FRIENDLY APP WINNIE RAISES $4 MILLION
Bird allows its users to book the nearest available scooter via their smartphone app at minimal costs and at the end of the journey, they are allowed to leave the scooter anywhere.
The startup is rapidly expanding and currently waiting for its permit to do business in San Francisco from the concerned officials. Bird and its rival startup companies like Lime are not free from any criticism. In the past few months, the city officials have been complaining due to the sudden excess of e scooters on roads without issuing any warning beforehand.
“We have met with over 20 companies focused on the last-mile problem over the years and feel this is a multi-billion dollar opportunity that can have a big impact in the world,” CRV’s Saar Gur, who did the deal for the firm, said.