Lyft tied the acquisition to its recent Green Cities Initiative, a company effort to at least nominally support ecologically friendly transport.
Motivate's speciality involves conventional bicycles kept in docking stations around cities, and its agreements with San Francisco, Chicago and other locations will be part of the deal, Lyft said. Motivate will still operate a standalone business maintaining bikes and managing operations under its current name.
We founded Lyft with the mission to reduce personal vehicle ownership.
Lyft isn't the only ride sharing company stretching its wings into human-powered transportation.
While Motivate is the clear leader in USA bike-share services, recent momentum has favored startups that offer dockless bikes.
"We're excited to invest in bike-share to continue building the world's best transportation for the future of our cities", Lyft tweeted.
Lyft inherits Motivate's city contracts with the deal, it said.
According to Lyft's press release, the business will be renamed Lyft Bikes.
Lyft plans to launch bikeshare services in the company's top markets and cities where Motivate already operates.
Capital Bikeshare is different from other cities' systems because it does not have a named sponsor.
Citi paid $41 million (roughly Rs. 281 crores) to be the corporate sponsor for New York's bike-share system beginning in 2012.