LimeBike Lands $12M

San Mateo-based LimeBike, a bicycle-sharing startup which partners with cities to offer up bright green bikes for its residents, has raised $12M in a Series A funding, the company said this week. The funding was led by Andreessen Horowitz, and also included IDG Ventures, DCM, and Immersion Ventures. The startup says it offers up its bike sharing programs at zero cost to cities, by charging only $1 per ride to residents. The startup was founded by Toby Sun and Brad Bao.