Bird has closed a Series D spherical led by Sequoia Capital at a $2.5 billion valuation, TechCrunch has realized. Sources, nonetheless, didn’t point out the scale of the spherical.
This spherical follows experiences from The Information that Bird was trying to increase $200 million to $300 million by the top of this summer time, at a post-money valuation of greater than $2.three billion.
Bird declined to touch upon the funding spherical, saying it doesn’t touch upon rumors or hypothesis.
Sequoia Capital beforehand led Bird’s $300 million Series C spherical again in June, with Roelof Botha becoming a member of Bird’s board on the time. Sequoia declined to touch upon the spherical, however Botha did say the Bird group “exemplifies grit.”
“What they’ve accomplished in achieving both rapid growth and strong unit economics is rare for a company this complex and so early on,” Botha mentioned in an electronic mail to TechCrunch. “Bird’s innovation across a spectrum of disciplines to achieve operational excellence at scale, including hardware design and manufacturing, vehicle maintenance and repair, optimization of Bird charging and deployment, and city-level regulatory affairs is unparalleled.”
Last week, Bird CEO Travis VanderZanden mentioned Bird has constructive unit economics on its new Bird Zero scooters, which accounts for greater than 75% of its fleet. But based mostly on one of many pictures VanderZanden tweeted, it appears that evidently determine is predicated on a interval of 4 weeks in the summertime when scooter ridership is probably going larger.
In June, Bird acquired Scoot in a deal value lower than $25 million. That acquisition marked Bird’s first enlargement into conventional bicycles and mopeds. Shortly earlier than that, Bird unveiled a two-seater hybrid bike/moped automobile known as the Bird Cruiser. In addition to providing shared automobiles, Bird can also be promoting scooters on to customers.
Prior to this spherical, Bird had already raised greater than $400 million in funding and reached a valuation of $2 billion final June.
