Friday, May 26, 2017

Spin Scores $8M For Bike Sharing Service

San Francisco-based Spin, a startup offering up bike sharing which does not require station docking, and where bikes can be unlocked using a QR code, has raised $8M in a Series A funding round. The funding was led by Grishin Robotics, and also included Exponent, CRCM, as well as Charlie Cheever (co-founder, Quora) and Matt Brezina (Dropbox). The company is led by Derrick Ko, a former Lyft executive. Spin says its bicycles are equipped with GPS, cellular connectivity, solar panels, and solid tires that are designed for durability.