Lyft secures £19m from InMotion to support transport technology expansion.
Jaguar Land Rover's mobility arm backs the ride-sharing platform with a strategic investment.
Lyft operates a ride-sharing and transport platform connecting passengers with drivers across the United States.
Lyft has secured a £19m investment from InMotion, the mobility services arm of Jaguar Land Rover. The funding forms part of a wider fundraising round that closed earlier in April.
The capital will support Lyft as it continues to expand its operations and technology capabilities. For InMotion, the partnership provides an opportunity to test connected and autonomous vehicles while supplying Lyft drivers with Jaguar and Land Rover vehicles.
The investment builds on InMotion's earlier backing of digital carpool business SPLT, which collaborates with Lyft on transport services.
From the founder
"We’re excited to join forces with Jaguar Land Rover and InMotion,"
John Zimmer
President and Co-founder at Lyft
Investor perspective
"We are excited to collaborate with a leading platform like Lyft not only on developing premium mobility solutions but also devising innovative solutions to the transport problems Jaguar Land Rover’s customers face."
Sebastian Peck
Managing Director, InMotion
Use of funds
- 01Expand into international markets
- 02Continue product development