Third Lane Mobility, the parent company of shared micromobility brands Bird and Spin, has announced a $20m capital raise to support fleet expansion and leadership initiatives in 2026.

The funding comes from existing investors and represents the first tranche of capital the company expects to raise this year, through both existing investors and third parties.

Third Lane Mobility was formed after Bird emerged from Chapter 11 restructuring in April 2024. Following the restructuring, Bird and Spin began operating under the same parent company structure.

35k new vehicles planned for deployment

The newly raised capital is expected to support the purchase of around 35k additional vehicles. These vehicles are scheduled for deployment during Spring 2026 across several cities, including Atlanta, Los Angeles, Nashville, Baltimore, San Francisco, Seattle, Tel Aviv, and Rome, along with other markets.

The expansion follows the company’s rollout of its latest-generation vehicles in 2025. Third Lane Mobility reported that these newer vehicles recorded higher utilization rates compared to earlier models. The increase was especially strong for shared bikes, which showed greater rider demand across multiple U.S. cities.

Commenting on the funding, Stewart Lyons, CEO of Bird, said:

“This new funding allows us to further scale a fleet that our riders have embraced, and that supports the transportation goals our city partners care about most. We are particularly excited about what we’ve seen from our new seated form factors, and really view that as the key growth lever for the company moving forward.”

Leadership Updates

Alongside the funding announcement, Third Lane Mobility confirmed the formation of a Transportation Advisory Board. The board will include independent experts and city transportation leaders and will focus on helping cities and operators deliver safer, more accessible, and better-managed shared micromobility programs.

Gabe Klein has been named Chair of the board and will oversee the recruitment of additional members.

Speaking about his role, Klein said:

“As the industry has matured and cities have truly embraced shared micromobility as a central link in public transportation networks, we have a huge responsibility and opportunity to get this next phase of the industry right. I’m thrilled to be working with the leadership team as an adviser and liaison to cities globally.”