AAA Google shares RelayRides with August

Google shares RelayRides with August

RelayRides, a US-based company to help people rent out their car, has raised an undisclosed amount from venture capital firm August Capital and Google Ventures, the corporate venturing unit of search engine firm Google.

RelayRides is transferring its base from Boston to San Francisco, where both Google and August offer facilities to help early-stage portfolio companies.

Newswire Reuters said Google Ventures’ healthcare portfolio company Adimab and four other companies were part of the corporate venturing unit’s new Startup Lab.

Bill Maris, managing partner of Google Ventures, told Reuters the Lab was part of its plan to appeal to similar early-stage companies. He said: "We plan to be very active in 2011 in the seed space."

Leave a comment

Your email address will not be published. Required fields are marked *