Consolidation in the micromobility space has arrived — in Brazil, at least. A few months after Y Combinator-backed Grin merged its electric scooter business with Brazil-based Ride, it’s now merging with Yellow, the bike-share startup based in Brazil that has also expressed its ambitions to get into electric scooters.
If Yellow sounds familiar to you, it may be because, in September, the company raised $63 million in a funding round led by GGV Capital. That was the largest Series A round for a Latin American startup. A month later, Grin raised a $45.7 million Series A round.
By Megan Rose Dickey via Tech Crunch