Kyte Secures $200 Million Asset-Backed Financing Facility From Goldman Sachs And Ares Management To Grow Fleet Amid Unprecedented Transformation Of The Transportation Industry
PRIVATEMar 24, 2022
Amount Raised
$200 Million
Round Type
Funding Round
San FranciscoConsumer GoodsTransportation
Description
Kyte, the company pioneering cars delivered to you on-demand, today announced the closing of an asset-backed credit financing of up to $200 million from Goldman Sachs ("Goldman") and the Ares Global Management ("Ares") Alternative Credit Team to accelerate the company's fleet growth and margin expansion. Kyte and its financing providers will create a more robust trip economy that services a more demanding customer with a shared vision of an electrified, autonomous future.
Who else raised in Consumer Goods and Transportation around the same time
Companies in the same sectors as Kyte that raised within 45 days of this round, from Fundz verified event records.
Toothsi raised $40M (Funding Round) on May 2, 2022.
Deepset raised $14M (Funding Round) on April 28, 2022.
Madison Reed raised $33M (Funding Round) on April 28, 2022.
Xpeng raised $1.2B (Debt Financing) on April 27, 2022.
Truemeds raised $22M (Funding Round) on April 26, 2022.
Upty raised an undisclosed amount (Seed) on April 25, 2022.
Who to call at Kyte, and when
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Who you already know at Kyte, from your own LinkedIn network
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Company Information
Company
Kyte
Location
San Francisco, California, United States
About
At Kyte, we’re reimagining transportation and bringing the cities back to the people. We are dedicated to finding the perfect balance of technological and operational excellence, all while ensuring a seamless and magical customer experience.
Our ridiculously ambitious team is trailblazing a new category of transportation. Within this, we’ve cultivated a values-first culture, with a team empowered to be bold, be humble, and take ownership.
We are a global team made up of incredibly talented individuals that love to be challenged and have fun together! We are hiring across several departments - in San Francisco, Munich, or remote. https://jobs.lever.co/drivekyte
Kyte’s Founding Story
Nikolaus, Francesco and Ludwig formed a joint vision of a better and more efficient transportation system in the Bay Area in mid 2018 after they all had come over from Germany on very different routes. They shared a passion for transportation and had all dedicated their careers to different elements of the transportation landscape:
Nikolaus was a machine learning engineer at Uber and Uber Eats. Francesco built consumer apps for BMW car sharing. Ludwig worked with Auto Manufacturers on preparing them for the future of mobility at McKinsey.
Kyte is going after an incredibly large existing market that is characterized by poor experiences and inefficient attempts that don’t solve the one important customer need - convenience. Through technology we are able to achieve an unparalleled level of convenience.
AI made execution free. Knowing first is the whole game now.
Fundz sees it the moment Kyte raises, hires an exec or expands, usually minutes after it happens, and tells you who to reach.
San FranciscoConsumer GoodsTransportation