Uber is leading a $170 million (roughly Rs 1,280 crore) investment in scooter- and bike-sharing startup Lime, in a move that deepens the ties between the two "sharing economy" platforms, the companies said.
Under the deal, Uber will transfer its Jump electric bike and scooter operations to Lime while keeping the 'micromobility' services on its mobile application.
"Riders around the world will have even more integrated micromobility options at their fingertips, making car-free travel easier than ever before," the two firms said in a joint statement.
"In almost all markets where Lime and Uber operate, users will be able to turn to both the Lime and Uber app to unlock world-class products and services."
The two firms previously had an agreement allowing users to find and rent bikes and scooters with either of the applications.
Also joining in the investment round are Alphabet, Bain Capital Ventures, GV, and other existing and new investors, according to the statement.