Quin Garcia, AutoTech Ventures managing director, explains how the company is reinventing ground transportation. He speaks with Bloomberg’s Shery Ahn on “Trending Business.”
This is the latest installment in our Energy Startup Series that gives executives at cutting-edge energy firms an opportunity to share insights and experiences about the energy industry, their careers and their companies. The garages of Palo Alto are famous birthplaces for some of the most impactful high-tech companies in history. But for Quin Garcia, a managing director of the Palo Alto venture capital firm AutoTech Ventures, garages represent not only the birthplace of high-tech startups, but also the key to solving major transportation energy and safety challenges.
With a team of venture capitalists, transportation executives, and entrepreneurs, AutoTech’s goal is to bridge the gap between innovative startup companies and large corporations to deploy new road transportation technologies. Energy and transportation are inextricably linked; this Q&A gives insight into how the transport sector is looking at the energy puzzle.
AutoTech Ventures, a transportation-focused VC firm, is raising upwards of $150 million for its debut fund, according to a regulatory filing…
Ridesharing startup Lyft has new capital and a new ally in its war against Uber. Japanese e-commerce giant Rakuten led a $530 million round of funding for Lyft in a deal that closed this week.
The financing, which also included new investor Fortress Investment Group, values three-year-old Lyft at more than $2.5 billion. The capital gives Lyft more ammunition in its uphill battle against larger foe Uber, which has raised over $5 billion in funding and is available in more than four times as many cities. The two companies have undercut one another on prices, poached drivers and sworn investors to secrecy in their efforts to expand services they believe will play a big role in the future of urban transportation.