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After years of hints and preparation, the Uber-backed electric bike and scooter rental startup Lime filed for an initial public offering. A micromobility company going public in 2026? It seems surprising.
Lime CEO Wayne Ting has been discussing an IPO for years. TechCrunch spoke to him about it in 2020, 2021, and 2023. It never happened until the S-1 document appeared, early Friday.
There are interesting risk factors in the S-1, although terms of the offering are pending.
Revenue is rising, it has positive free cash flow, and net losses narrowed after 2023, despite a slight increase between 2024 and 2025. Uber still plays a crucial role, as Lime noted that about 14.3% of its revenue came through its partnership with Uber, which allows users to find and rent scooters and e-bikes via its app.
Lime seems to be a growth company on track for profitability. However, it has nearly $1 billion in current liabilities, with $675.8 million due by the end of 2026. Overall, about $846 million is due within 12 months. Lime lacks sufficient liquidity to cover this, according to its filing. Lime mentions in the S-1: If it can’t go public and raise capital or revise its debt agreements, it might not sustain operations.
Risk factors in the S-1 also include city investments in public road infrastructure. Lime noted potholes, which can seriously affect shared scooters.
Lime also mentioned that a major portion of rides are in a few markets. One such market, the U.K., generated 22.2% of its revenue in 2025.
Last summer, Uber announced a premium robotaxi service using Lucid Gravity vehicles with Nuro’s autonomous technology. More than a partnership, Uber will invest $300 million in Lucid and buy “at least” 20,000 Gravity SUVs over six years. Uber recently increased its Lucid investment to $500 million and plans to purchase 35,000 vehicles.
Details around Uber’s investment in Nuro, a startup based in Silicon Valley, were scarce until now. A source says Uber’s total financial commitment to Nuro, including milestone-based investments, is nearly $500 million.
It seems Nuro has hit a milestone. The company is testing Lucid vehicles autonomously, with safety drivers. It recently expanded testing to allow Uber employees to use Lucid robotaxis with safety drivers still present. It has received driverless testing permits from the Department of Motor Vehicles and the California Public Utilities Commission.
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Kodiak AI’s first-quarter earnings illustrate the challenges of commercializing frontier tech. The company announced deals indicating progress, including a contract with Roehl, a pilot program for autonomous trucks in Alberta, and a collaboration with General Dynamics Land Systems.
However, investors were unhappy with its $100 million capital raise’s terms. Shares were sold at a discount from their closing price, and the deal included warrants allowing investors to buy more shares at a fixed low price.
The financing involved existing backer Ares Management and unnamed institutional investors.
Kodiak’s stock price dropped 37% following the release of this news. Shares have since slightly recovered.
Kodiak is expected to need more capital to achieve its target of driverless trucking on public highways.
Other deals catching my attention this week:
Moment Energy, focused on repurposing EV batteries, raised $40 million in Series B funding led by Evok Innovations, with additional funds from W23, Amazon’s Climate Pledge Fund, and In-Q-Tel.
Rocsys, developing hands-free solutions for autonomous EVs, raised $13 million in a Series A extension led by Capricorn Partners, with Scania Invest and others participating.
Aurora has started using driverless trucks in Texas for McLane. These trucks still have human observers aboard, unable to control the vehicles.
Lucid’s earnings report highlighted issues from a supplier earlier this year, resulting in a recall and delivery pause. The company revised projections, uncertain about its production and sales targets.
In 2024, the National Highway Traffic Safety Administration updated testing benchmarks for advanced assistance systems, effective in 2026. The 2026 Tesla Model Y is the first to meet the new standard.
Ouster is introducing a lineup of color lidar sensors that CEO Angus Pacala believes could substitute cameras.
EV startup Slate saw a change on its board. A representative from Jeff Bezos’ family office recently