Kyte receives nine million US dollars

The US start-up founded by Germans receives an investment. The aim is to expand into the American capital.

The start-up Kyte has received an investment of nine million US dollars. The money comes from DN Capital and Amplo VC, as well as 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 financial injection, the start-up has also announced its service in Washington D.C.

Kyte offers car rental for several days. The start-up maintains hubs in city center locations and delivers the vehicles to renters. "The pandemic has accelerated the transformation of cities and consumer behavior in terms of transportation," says investor Steve Schlenker from DN Capital. With its high level of service and comfort, Kyte will be a cornerstone of the mobility of the future.

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.