Citi Impact Fund helped supply $60m to help MIT’s smart scooter provider Superpedestrian hike its overall funding to about $140m.
Superpedestrian, a US-based micromobility technology spinout of Massachusetts Institute of Technology (MIT) raised $60m from investors including financial services firm Citi’s $150m Impact Fund, equity crowdfunding platform OurCrowd and private equity firm Winthrop Square Capital yesterday.
Superpedestrian has created an electric scooter called Link which is fitted with artificial intelligence software-based collision detection technology and tools that monitor a vehicle’s health.
The spinout emerged from stealth in 2013 with $2.1m from Spark Capital and angel investor David Karp, adding $4.1m the following year according to a securities filing.
Superpedestrian closed a $16.5m series B2 round in May 2018 featuring Spark Capital, General Catalyst and individuals including Charles Kim that it said boosted its overall funding to almost $44m.
Spark Capital, General Catalyst, Hanaco Ventures and Empire Angels provided a further $20m in November 2019 before Edison Partners led a $15m round that included Spark Capital and…
