Electric scooter startup Bird is said to be nearing a deal to extend its Series C funding with an additional $300 million led by cross-over investor Fidelity, according to an Axios report.
Bird declined to comment.Fidelity has not previously invested in Bird and is reportedly doing so at a flat pre-money valuation of $2 billion, which Bird earned with a $300 million Sequoia-led financing in June.
Santa Monica-based Bird has raised more than $400 million in venture capital funding to date from investors, including Accel, CRV, Greycroft, Index Ventures, Upfront Ventures, Craft Ventures and Tusk Ventures.The investment comes at a time when many investors are losing faith in scooter startups claims to bethesolution to the problem of last-mile transportation, as companies in the space display poor unit economics, faulty batteries anda general air of undependability.
Lime, Birds biggest e-scooter competitor, has at least expanded its suite of micro-mobility offerings from bikes and scooters to LimePods, a line of shareable vehicles available in Seattle, topeak investor interest.
San Francisco-based Lime has been seen pitching to investors in Silicon Valley recently, too, with reports indicating its looking for a $400 million investment at a $3 billion valuation more than three times the valuation it garnered with a $335 million round in July.