Kyte receives nine million US dollars
The US start-up founded by Germans receives an investment. This is to be used to expand into the American capital.
The start-up Kyte is receiving an investment of nine million US dollars. The money comes from DN Capital and Amplo VC, as well as from the co-founder of Lime, Toby Sun, and the co-founder of Kayak, Terry Jones. So far, Kyte offers its car rental service in San Francisco, Boston and Los Angeles. With the infusion of funding, the startup has announced its service in Washington D.C. as well.
Kyte offers car rental for multiple days. The startup maintains hubs in downtown locations and delivers vehicles to renters. "The pandemic has accelerated the transformation of cities and consumer behavior around transportation," said investor Steve Schlenker of DN Capital. With its high level of service and convenience, Kyte will be a basic building block of mobility in the future, he said.
The three German expats Ludwig Schoenack, Nikolaus Volk and Francesco Wiedemann founded the company in 2019. They met in San Francisco and had previously worked at BMW, Uber and McKinsey.
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