Electric scooter startups are aggressively seeking to raise money, telling potential investors that restrictions cities have placed on their operations won't impede their long-term growth. So far, Silicon Valley venture capital firms are all in.
Skip, a shared electric scooter operator that was founded by the co-creator of “Boosted Board” electric skateboards, told The Information on Tuesday that it is closing a $25 million Series A funding from Menlo Ventures, Accel Partners and Y Combinator. The funding is believed to value Skip, formerly known as Waybots, at nearly $100 million post-investment, said a person with knowledge of the matter. Both VC firms already are investors in the shared bike and scooter businesses—Menlo recently backed Jump, an electric bike startup acquired by Uber, and Accel has invested in rival scooter firm Bird.