In This Article:
-
Uber and Alphabet are investing $335 million in scooter and bike-sharing company Lime.
-
Early Snapchat and Stitch Fix investor Lightspeed raised $1.8 billion in fresh capital to invest in startups.
-
Pony.ai raised $102 million in fresh funding for self-driving vehicle tech.
Here's a round-up of the most important deals in venture capital from the past week.
Start-ups
Alphabet GOOGL , its venture arm GV, and Uber led a $335 million investment into Lime , the mobility start-up that lets users rent bikes or scooters using their smartphones to unlock and pay for them. With the deal, Lime's valuation has risen to $1.1 billion. The deal continues the hot streak in last-mile mobility: In April, Uber acquired Jump Bikes, the start-up that first popularized "dockless" bike sharing in the U.S. And Lime's competitor in the burgeoning scooter market, Bird, raised $300 million, notching a $2 billion valuation.
Opener, a company building a fixed-wing vertical takeoff and landing aircraft, announced that Alphabet CEO Larry Page has backed the company with a private investment. It is Page's second known investment in personal flying vehicles; he also is an investor in Kitty Hawk , which demonstrated its flying car last month.
A Starbucks competitor in China, Luckin Coffee , raised $200 million in series A funding from Singapore's sovereign wealth fund GIC, attaining a $1 billion valuation, Reuters reported . LuckIn delivers coffee on-demand to its customers, and operates 525 stores in 13 cities across China.
Convene raised $152 million in a series D round of funding led by ArrowMark Partners, with a number of other tech and real estate investors. According to a company statement, Convene partners with large real estate firms to bring various, Google campus-like amenities to their office buildings, so they can offer them to all tenants there. Convene also leases offices, and rents out meeting and work spaces much like its better-funded competitor, WeWork.
Autonomous vehicle tech start-up Pony.ai raised $102 million in a series A extension round led by Eight Roads Ventures and ClearVue Partners. Run by former Baidu exec James Peng, Pony.ai is already operating and road testing self-driving vehicles in major cities in China. Pony.ai is developing software algorithms that can enable a car to perceive its surroundings, anticipate what others will do, and maneuver accordingly without a driver. The company secured a license to begin autonomous vehicle testing in Beijing earlier this month.
Toast , a Boston company that makes restaurant management software raised $115 million in series D funding, bringing the company's valuation to $1.4 billion. T. Rowe Price and Tiger Global led the deal.