Funding round
Kyte Seed
Kyte, which works in vehicle rental services in San Francisco, raised $9.0M in a Seed round announced on 5 Jan 2021, led by DN Capital. 2 firms took part, with 6 individual investors. It is Kyte's first venture round on record.
$9.0M
Amount raised
Not disclosed
Post-money valuation
2
Investors
1 lead
Valuation
What this round says about the price
Kyte did not disclose a valuation in this round. It is Kyte's first venture round on record, 2 years after it was founded in 2019. It is 9.1% of the $99M Kyte has raised in the venture rounds on record. Kyte raised again 9 months later: a Series A round of $30M in Oct 2021.
Kyte's funding rounds
Kyte has 3 venture rounds on record and 2 other deals. This one is highlighted.
Investors
Who put money in
DN Capital led the round with 1 other firm.
Lead investor
- backs 55 venture-backed companies new investor
Also in the round
- backs 42 venture-backed companies new investor
Individual investors: Ed Baker, Jörg Heilig, Josh Mohrer, William Barnes, Toby Sun and Terry Jones.
Use of proceeds
What the money is for
According to the announcement, the money goes to geographic expansion, sales and marketing, scaling operations and working capital.
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
7 Seed rounds in Car Rental within a year either side disclosed an amount; the median was $2.5M, and this round was 3.6 times the median. The closest in time, other companies' Seed rounds in Car Rental:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Car Rental | 25 Feb 2021 | $5.0M | not disclosed | Emkan Capital and Panthera Capital Ventures |
| Car Rental | 12 Mar 2021 | $5.0M | not disclosed | Kindred Ventures |
| Car Rental | 18 Nov 2020 | $3.8M | not disclosed | Maniv Mobility |
| Car Rental | 1 Aug 2020 | $1.0M | not disclosed | not named |
| Car Rental | 16 Jun 2020 | $2.5M | not disclosed | Change Ventures |
| Car Rental | 11 May 2020 | $900K | not disclosed | not named |
| Car Rental | 12 Nov 2021 | $715K | not disclosed | DSW Ventures |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did Kyte raise in its Seed round?
Kyte raised $9.0M in its Seed round, announced in Jan 2021.
Who led Kyte's Seed round?
DN Capital led it, with Amplo.
What was Kyte's valuation at the Seed round?
It was not disclosed.
How does it compare with other Seed rounds in Car Rental?
7 Seed rounds in Car Rental within a year either side disclosed an amount; the median was $2.5M, and this round was 3.6 times the median.
Did Kyte raise again after this round?
Yes: a Series A round in Oct 2021 of $30M.