Grin, the Mexico City-based electric scooter company backed by Y Combinator, is merging with São Paulo-based Ride to further the company’s expansion across Latin America. This comes shortly after Grin raised a ~$45 million Series A round.
Currently, Grin only operates in Mexico City, but it has plans to expand to other cities throughout Latin America. The merger with Ride, which already operates in São Paulo, will enable Grin to do this as early as next week, Grin co-founder Sergio Romo told TechCrunch.
“I think any company scaling today has to have a crypto strategy. This is the start of ours,” Omni founder and CEO Tom McLeod tells me. His on-demand property storage and rental marketplace raised $25 million in XRP coins back in January in what some saw as an opportunist move to capitalize on the cryptocurrency boom. That industry has since gone bust, and XRP is in the cross-hairs of regulators who may classify it as a security with extra restrictions.
Now Omni has a way to get rid of some of its XRP. It’s beginning to let people get paid in the coin when they rent their stuff to fellow Omni users. Their balance of earnings is held in USD, but they can cash out to XRP at any time with no fee.
Grin, an electric scooter startup backed by Y Combinator, has raised a $45.7 million Series A to operate shared, electric scooters in Latin America.
Last week the Federal Government released an update to their self-driving policy known as Automated Vehicles (AV) 3.0. This update is especially significant because, for the first time, it includes rules that set out how to deploy self-driving trucks. We are very excited about this update — as a result of AV 3.0 self-driving trucks are now allowed to operate across more than 90% of the United States once they are demonstrated to be safe.
Honda will commit $2.75 billion as part of an exclusive agreement with GM and its self-driving technology subsidiary Cruise to develop and produce a new kind of autonomous vehicle