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Andreessen Horowitz leads Lyft’s $60m Series C round

24 May 2013

car dashboard_sqVenture capital firm Andreessen Horowitz is set to lead a $60m Series C funding round for San Francisco-based ridesharing app Lyft.

The firm said that since its launch in 2007 the business has “absolutely exploded” and is currently doing more than 30,000 rides per week.

“Lyft is all about taking cars off the road via ridesharing,” Andreessen said on its website.

“This is not merely a cool new use of technology to efficiently onboard and route more cars, cabs, towncars and limos.

“Lyft wants to use technology to get everyone who currently owns a car to join a trusted information network to share rides.”

Earlier this month Andreessen participated in a $10.7m Series A round for Drone startup Airware alongside Google Ventures.

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