According to Ride-sharing company Lyft it has raised another round of funding from investors in the amount of $600 million. The estimated valuation of Lyft after this fresh round of funding goes up-to $7.5 billion.
Lyft has to date raise more than $2 billion in venture capital from different investors.
This funding has come at a time when its rival Uber is facing some real problems, including sexual harassment accusations and a lawsuit from Alphabet Inc’s self-driving vehicle division.
This is an important funding as it will help Lyft and General Motors (investor) in the self-driving cars development.
Lyft president John Zimmer said in September, he expected the first of the semi-autonomous vehicles to be available through Lyft as early as this year and that most of the vehicles on the platform will be self-driving in five years.
Read the full article at: CNN.com