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Autonomous Vehicles

Published on November 23rd, 2017 | by James Ayre


Lyft Raises Yet Another $500 Million In Funding…

November 23rd, 2017 by  

While on-demand taxi service competitor Uber’s role in the news cycle remains as a magnet for scandals, Lyft has just completed yet another $500 million funding round, going on a US share authorization document recently filed in Delaware.

The new funding round, interestingly, was led yet again (as many earlier Lyft funding rounds were) by Alphabet Inc’s CapitalG. As you may recall, Alphabet (effectively, Google and cohorts) just participated in a $1 billion funding round with Lyft that was announced in October — the new funding is seemingly an extension of that previous round.

In an emailed statement to Reuters, Lyft spokesperson Adrian Durbin confirmed the funding round, stating: “Increasing the potential for this round will allow us to further accelerate our commitment to serving passengers and drivers.”

The earlier funding round in October, according to Lyft execs, raised the company’s valuation to some $11 billion — up from $7.5 billion or so — so the company’s valuation now would seem to rest somewhere around $11.5 billion.

Accompanying the growth in valuation, recent times have seen Lyft forge a number of new partnerships with various auto manufacturer and self-driving vehicle tech developers — with the aim reportedly being to be first to market with a self-driving vehicle taxi service. For more on that, see:

Ford To Partner With Lyft On Self-Driving Car Deployment

Lyft Aims For 100% Renewable Energy & Self-Driving Bolt Fleet

Lyft To Offer Self-Driving Car Rides In San Francisco.

In fact, news we published moments ago was on precisely that topic of self-driving vehicle tech development: Lyft Approved To Test Self-Driving Technology On California State Roads.

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About the Author

James Ayre's background is predominantly in geopolitics and history, but he has an obsessive interest in pretty much everything. After an early life spent in the Imperial Free City of Dortmund, James followed the river Ruhr to Cofbuokheim, where he attended the University of Astnide. And where he also briefly considered entering the coal mining business. He currently writes for a living, on a broad variety of subjects, ranging from science, to politics, to military history, to renewable energy.

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