3LM, Parent Company of Bird and Spin, Announces $20M Capital Raise for Micromobility Expansion
Third Lane Mobility (3LM), the parent company of Bird and Spin, announced a $20 million capital raise to support significant fleet expansion and deeper engagement with city partners as shared micromobility continues to scale globally. The company made the announcement on January 22, 2026.
The funding, provided by existing investors, represents the first tranche of capital the company expects to raise in 2026 through a combination of current and new investment sources. The capital will support the acquisition of approximately 35,000 additional vehicles, scheduled for deployment beginning in spring 2026. These vehicles will expand operations across key markets including Atlanta, Los Angeles, Nashville, Baltimore, San Francisco, Seattle, Tel Aviv, Rome, and numerous other cities.
This investment builds on the strong performance of Bird and Spin’s latest-generation vehicles deployed throughout major U.S. cities in 2025. Utilization rates for the newer models, particularly e-bikes, significantly exceeded those of earlier generations, providing a strong foundation for the next phase of growth.
According to Stewart Lyons, CEO of Bird and a Third Lane Mobility company, the new funding enables continued scaling of a fleet that riders have responded to positively while aligning with the transportation priorities of city partners. Lyons highlighted the company’s newer seated vehicle formats as a key driver of future growth.
In parallel with the capital raise, Third Lane Mobility announced the formation of a Transportation Advisory Board designed to strengthen collaboration with cities and strategic partners. The board will be chaired by Gabe Klein, who will also lead the recruitment of additional members. Its mandate is to provide practical guidance on improving safety, accessibility, and operational quality as shared micromobility becomes an increasingly integral part of urban transportation systems.
Klein brings extensive experience in transportation and sustainability, having previously served as Transportation Commissioner in Washington, D.C. and Chicago, as well as Executive Director of the Federal Joint Office of Energy and Transportation. He is also a co-founder of Cityfi and Adapt/Impact.
Third Lane Mobility indicated that additional updates related to funding activity and spring 2026 vehicle deployments will be shared in the coming months.
Third Lane Mobility is the parent organization of Bird and Spin, two established shared micromobility brands operating e-scooter and e-bike programs in more than 200 cities worldwide. The company partners with cities, campuses, and organizations to deliver locally tailored programs focused on reliability, access, and responsible operations, with the goal of reducing car dependence and improving everyday mobility.
