Lyft, the ride-hailing app competing with Uber, has confirmed a $1 billion funding round led by a $500 million investment from General Motors. The two companies plan to develop an on-demand network of self-driving cars. Alibaba and Didi Kuaidi are among the other investors in the round. The latest investment reportedly values Lyft at $5.5 billion, more than doubling its previous valuation of $2.5 billion in March last year.
Dada, a China-based logistics mobile app, has completed a $300 million Series D round of funding, according to Chinese media reports. DST Global, Sequoia Capital and other unnamed investors all participated in the funding round. The company is valued at more than $1 billion after this latest round. Dada connects delivery workers with people looking to fill short distance delivery jobs, and operates in 40 Chinese cities.
Car rental company Silvercar has raised $28 million in Series C funding led by German automaker Audi. Previous investors Austin Ventures and Eduardo Saverin also participated in this round. Audi and Silvercar will work together to develop Audi Shared Fleet, a solution for businesses looking to provide transportation to their employees on corporate campuses. The investment will also be used by Silvercar to expand to new markets. “Audi’s confidence in Silvercar allows us to extend our reach even further, and bring forth the concept of shared mobility into many more markets, applications and product offerings,” said Silvercar CEO, Luke Schneider. “It is our goal to accelerate the expansion of our successful airport business in order to integrate these new mobility products into the market as soon as possible.”
Zipnosis, a virtual care platform provider, has raised $17 million in Series A financing led by Safeguard Scientifics. Ascension Ventures and previous investors including Fairview Health Services, Hyde Park Venture Partners, Arthur Ventures, Waterline Ventures and Omphalos Ventures, also participated. “Our platform is designed to enable health systems to expand access to immediate care using their own clinicians,” said Jon Pearce, co-founder and CEO of Zipnosis. “With Zipnosis, health systems have a unique opportunity to care for more patients under their own brand name and without adding staff. Patients are happier to be ‘seen’ sooner without having to step foot outside their home or go to a waiting room. We are grateful to Safeguard Scientifics, Ascension Ventures and our existing seed investors for their confidence in our team and technology, and for their support that will enable us to expand the innovative access we provide to mainstream medicine through our partnerships with health systems around the U.S.”