Do you envision a world where people can go anywhere, whenever they want, at the click of a button?
Did you know that more than 40 million e-hailing trips are being booked every day?
Did you know that 60 percent of people would share their shared-mobility ride with a stranger if doing so would add less than 15 percent to their travel time while reducing their cost?
Shared mobility has deep roots. Stretching back to 1940s Switzerland, the idea has expanded over time to include shared micromobility offerings.
However the current opportunity to transform the way we move results from changes in three main areas: regulation, consumer behavior, and technology.
Industry players are accelerating the speed of automotive technology innovation as they develop new concepts of electric-connected autonomous and shared mobility.
Mobility problems will intensify as population and GDP growth drive increased car ownership and vehicle miles traveled.
In response, the mobility industry is unleashing a dazzling array of innovations designed for urban roads, such as mobility-as-a-service, advanced traffic management, and parking systems, freight-sharing solutions, and new transportation concepts on two or three wheels.
NICHE TO MAINSTREAM
Car sharing is one of the most interesting phenomena of the last few years. It is a practice that is spreading rapidly, especially in big cities that are at a bursting point when it comes to road traffic.
The segment is growing exponentially for example in 2019, there were 764 shared mobility services in Italy, active in 271 cities, and over 7 million people registered, an exponential growth compared to 2017 and 1 million users. It shows a massive market opportunity.
Kyte, the company pioneering cars delivered to you on-demand for daily, weekly or monthly use, announced $60M in new funding.
This round allows Kyte to execute its mission further to build out our operational platform and best-in-class consumer experience in unlocking the freedom to go places.
Kyte will triple its current fleet and expand in new and existing markets globally while creating new offerings for those looking for alternatives to car ownership.
Kyte is redefining the limitations of the transportation industry, allowing consumers to bypass the inconveniences of car ownership, leasing, and traditional car rental.
Kyte delivers cars on demand to people’s doors for all trips longer than rideshare using the existing rental car market as its wedge to create a much larger category that spans the entire transportation sector providing access to vehicles for all kinds of trips whether a day, week or month in length.
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