Ride hailing startup Lyft is planning to raise as much as $1 billion in new funding, according to a report by Bloomberg yesterday. A Delaware state filing was cited as proof of the fundraising, which would boost Lyft’s valuation considerably. Lyft, Uber’s biggest rival in the U.S., was previously valued at $2.5 billion when it last raised funds in March.
Gusto, a HR and benefits tool formerly known as ZenPayroll, as raised $50 million at a $1 billion valuation, the company’s CEO has told TechCrunch. Gusto’s main rival is Zenefits, which last raised $500 million at a $4.5 billion valuation. Gusto last raised cash in April, when it secured $60 million at a $560 million valuation. The company has rebranded and added more than 275 employees this year.
Flux Factory, a data exchange service for architects, contractors and engineers, has raised $29 million in Series B financing co-led by Temasek and Surbana Jurong. Other investors included Far East Ventures, DFJ, South Park Ventures, Borealis Ventures, and Obvious Ventures. “Collaboration tools are critical infrastructure elements to address the urgent need for affordable and sustainable buildings for an urbanizing world,” said Nicholas Chim, Flux’s co-Founder. “Today, there are 1 billion people with substandard housing. By 2050, another 2 billion people will move into cities. Our industry needs to work together to develop new methodologies to meet this demand, while minimizing our usage of energy, water, and extracted resources.”
Shuttl, an India-based startup providing air-conditioned minibuses, has raised $20 million from Lightspeed, Sequoia and Times Internet. The company will use the funds to develop its technology and expand its service. “We exist to solve the office commute problem while positively impacting issues like congestion, pollution and safety,” Shuttle co-founder Singh said in a statement. “We believe buses are the most space efficient way to commute and we have added a technology layer on to them to build what could become a template for smart cities in India and abroad.”