Total amount raised
$549 Million
Latest funding date
3/1/2024
Location
Kyte has raised funding over 10 rounds, with the latest being a Debt Financing round. The company has attracted a total of 33 investors, including notable names like Barclays and Waterfall Asset Management.
Keep reading to explore the intricacies of Kyte's fundraising journey and the investors backing this innovative platform.
What Is Kyte?
Kyte was a private company based in San Francisco, California, specializing in car delivery services. The company aimed to provide the freedom to go places by delivering cars directly to people's doorsteps.
Operating in the automotive, fleet management, rental, software, and transportation industries, Kyte had an employee count ranging from 101 to 250. Despite its innovative approach, the company is now permanently closed.
How Much Funding Has Kyte Raised?
- Debt Financing
- Amount Raised: USD 250,000,000
- Date: March 2024
- Lead Investors: Barclays, Waterfall Asset Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate fleet growth and profitability, and improve economics and structural efficiencies.
- Convertible Note
- Date: March 2024
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Likely aimed at providing flexible financing options to support ongoing operations and growth.
- Series B
- Date: February 2024
- Lead Investors: Alumni Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand market reach and enhance technological capabilities.
- Series B
- Amount Raised: USD 60,000,000
- Date: November 2022
- Lead Investors: Alumni Ventures, InterAlpen Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enter new markets.
- Debt Financing
- Amount Raised: USD 200,000,000
- Date: March 2022
- Lead Investors: Ares Management, Goldman Sachs
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support early growth and operational expansion.
- Series A
- Amount Raised: USD 30,000,000
- Date: October 2021
- Lead Investors: Park West Asset Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technology and expand the fleet.
- Seed
- Amount Raised: USD 9,000,000
- Date: January 2021
- Lead Investors: DN Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial product and market entry.
- Seed
- Date: May 2020
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Likely aimed at early-stage development and market testing.
- Pre-Seed
- Date: September 2019
- Lead Investors: 1984 Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To validate the business model and initial market research.
- Angel
- Date: May 2019
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To secure initial funding for business setup and early operations.
Total Amount Raised: USD 549,000,000. Current Valuation: Not publicly disclosed.
Key Investors
- Barclays
- Details: Barclays is a British multinational investment bank and financial services company. It was a lead investor in Kyte's Debt Financing round.
- Investment Focus Areas: Investment Banking, Financial Services, Wealth Management
- Notable Investments: Various investments in financial services, technology, and other sectors.
- Waterfall Asset Management
- Details: Waterfall Asset Management is an investment firm specializing in structured credit and private equity. It was a lead investor in Kyte's Debt Financing round.
- Investment Focus Areas: Structured Credit, Private Equity, Real Estate
- Notable Investments: Investments in structured credit, private equity, and real estate sectors.
- Alumni Ventures
- Details: Alumni Ventures is a venture capital firm that invests in high-growth startups. It was a lead investor in Kyte's Series B round.
- Investment Focus Areas: Technology, Healthcare, Consumer Products
- Notable Investments: Investments in various technology startups and healthcare companies.
- InterAlpen Partners
- Details: InterAlpen Partners is a private equity firm focused on growth investments. It was a lead investor in Kyte's Series B round.
- Investment Focus Areas: Technology, Healthcare, Financial Services
- Notable Investments: Investments in technology and healthcare sectors.
- Park West Asset Management
- Details: Park West Asset Management is an investment management firm. It was a lead investor in Kyte's Series A round.
- Investment Focus Areas: Technology, Financial Services, Real Estate
- Notable Investments: Investments in technology and financial services sectors.
What's Next for Kyte?
Kyte's future holds significant opportunities, particularly in expanding its fleet size and market reach. With $250 million in asset-backed debt financing, the company is well-positioned to scale operations and enhance profitability. The growing demand for on-demand car delivery services and the integration of digital technology with physical operations present substantial growth prospects.
Future fundraising opportunities are promising, with potential for additional asset-backed financing and equity capital. Strategic partnerships with financial institutions and vehicle manufacturers could further bolster Kyte's market position. However, challenges such as managing logistics, maintaining profitability, and navigating regulatory conditions will require careful planning and execution.
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