SoftBank Vision Fund has led a $250 million investment round into Tier, the European micro-mobility brand.
Existing investors, including Mubadala Investment Company’s financial investment arm, Mubadala Capital, Northzone, Goodwater Capital, White Star Capital, Novator and RTP Global, also participated in the backing for the Germany-based company.
The Series C round brings the total taken by way of external investment into Tier to $381 million over five rounds.
SoftBank's backing will be used to extend Tier's "ambitious" expansion plans for Europe.
In addition to the round, Tier says it is working on establishing a "significant" debt facility to fund growth of its vehicle network.
In two years since its launch, Tier has deployed 60,000 e-scooters in 80 cities in ten countries, it says.
Another major outlay from the new investment will come with the development of its Tier Energy Network - installation of "thousands" of charging stations in cities that can be used to power electric vehicles.
Co-founder and CEO, Lawrence Leuschner, says: "After achieving profitability with our e-scooters, we have in place the foundations to lead the way towards seamless and sustainable mobility.
"Our vision is a completely new way of how we will move in cities in the future: all electric, shared and affordable, and with different vehicles powered by one energy network. Together with, city and national government, we will build the best solutions to ensure safe, highly efficient, and sustainable movement from A to B."
* Check out this interview with Lime co-founder and chairman, Brad Bao, recorded for the How I Got Here podcast in October 2020.