Softbank's Vision Fund 2 leads $250-million investment in e-scooter firm Tier Mobility

FILE PHOTO: The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo, Japan, July 20, 2017. REUTERS/Issei Kato

- SoftBank Group Corp’s Vision Fund 2 has led a $250 million investment in Berlin-based e-scooter company Tier Mobility, the German firm said on Tuesday. Existing investors, including Mubadala Investment Company’s financial investment arm Mubadala Capital, Northzone, Goodwater Capital, White Star Capital, Novator and RTP Global, participated in the Series C funding round, the company said.

Including the fresh funding amount, Tier Mobility is now valued just below $1 billion, as per a Financial Times reportThe funding allows Tier Mobility to overtake Lime to be the second-most valuable e-scooter company after Bird, the newspaper said.

Good to see SoftBank keeping faith in startups inspire of getting it's hands burned more than once in the past. That's good for the future of Entrepreneurship and innovation.

I’d rather walk, ride a bike or the horror, drive!

this is terrible news

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