Lime, an e-scooter and e-assist bike sharing company, is reportedly on its way to closing a new round of funding worth $400m at a valuation of around $2bn.

According to Recode, citing people familiar with the matter, the round is being financed primarily by existing investors and expected to arrive in two parts – an initial $300m followed by a second investment of $100m.

Thus far, Lime has received more than $450m in funding from existing investors including the likes of Uber, Google parent Alphabet, and Andreessen Horowitz.

The money being pumped into Lime shows that investors are willing to bet big on electric scooter and bike sharing taking off in the coming months and years. Although, it remains to be seen if this will be the case.  

Within bike sharing, there has already a lot of issues surrounding adoption rates and vandalism – and you can only imagine the same will be issues for e-scooter sharing. On top of this, Lime has recently had to recall its e-scooters in Switzerland over concerns over passenger safety due to a software error.