Finance

European Uber rival Bolt raises more than $180 million for A.I. drive

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A Bolt driver in Krakow, Poland.

Beata Zawrzel | NurPhoto via Getty Images

LONDON — Bolt, a European competitor to ride-hailing giant Uber, said Wednesday it had raised 150 million euros ($182 million) to bolster the safety of its platform through facial recognition and artificial intelligence.

The Estonia-based company declined to disclose its valuation but said it was up from the $1.9 billion it was worth after a 100 million euro convertible note issuance in May.

Bolt’s latest round of funding was led by D1 Capital Partners, the hedge fund run by American billionaire Daniel Sundheim. Darsana Capital Partners, another hedge fund, also invested.

Bolt said it would use the money to enhance…



Source cnbc.com

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