General Motors has acquired Sidecar, a US-based ride sharing company backed by investors including internet company Google.
Sidecar closed in December and its assets purchase by GM’s is reported as helping its move into the driverless quasi-taxi space after it invested $500m in Lyft.
In September 2014, Sidecar raised $15m in series C funding from Google Ventures (now called GV), venture capital firms Avalon Ventures and Union Square Ventures, and entrepreneur Richard Branson.
The company also secured $10m in February 2014 from Union Square Ventures, SG VC and Tekton Ventures.
Google co-led Sidecar’s $10m series A round in 2010, which also featured Lerer Ventures and Huron River Ventures and Lightspeed Venture Partners.