Getaround, Inc., a San Francisco, CA-based peer-to-peer carsharing platform, raised $45M in Series C equity funding.
The round was led by Braemar Energy Ventures, with participation from Toyota Motor Corporation, through its investment in SPARX Group, SAIC Capital, the venture capital investment arm of Shanghai Automotive, as well as existing venture investors Menlo Ventures and Triangle Peak Partners. In conjunction with the investment, Neil S. Suslak, Managing Partner of Braemar Energy Ventures, joined the Getaround Board of Directors, along with Noah Yago of Triangle Peak Partners.
The company intends to use the funds to continue investing in scaling San Francisco, building key developing markets, such as Chicago and Washington D.C., and expanding into new markets such as the Tri-State New Jersey area, to strengthen its partnerships with global OEMs, local innovators like San Francisco’s City CarShare, and a growing number of local government agencies.
Led by Sam Zaid, Founder and CEO, and Jessica Scorpio, Founder and CMO, Getaround provides a patented connected car technology platform which allows people to share their cars and renters to reserve, locate, and unlock vehicles through an app, without needing to collect the car keys.
The company currently has nearly half a million users with thousands of cars available to rent instantly in 13 cities across the U.S.
Getaround has recently secured a number of strategic partnerships to broaden the ways its technology can be used, including a technology integration with Toyota, alongside partnerships with Uber and top carmakers.