SoftBank-backed Metropolis raises $1.6 billion to expand beyond AI-powered parking lots

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Metropolis Technologies, a US operator of parking lots that uses artificial intelligence and computer vision to recognize vehicles, has raised $1.6 billion in fresh capital to extend its technology into sectors such as retail, restaurants and gas stations, the company said on Thursday.

The funding includes a $500 million Series D equity round led by LionTree that valued the company at $5 billion. SoftBank Vision Fund, Vista Equity Partners, BDT & MSD Partners and Eldridge also participated in the round.

The Los Angeles-based company also secured a $1.1…



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SoftBank-backed Metropolis raises $1.6 billion to expand beyond AI-powered parking lots



Metropolis Technologies, a US operator of parking lots that uses artificial intelligence and computer vision to recognize vehicles, has raised $1.6 billion in fresh capital to extend its technology into sectors such as retail, restaurants and gas stations, the company said on Thursday.

The funding includes a $500 million Series D equity round led by LionTree that valued the company at $5 billion. SoftBank Vision Fund, Vista Equity Partners, BDT & MSD Partners and Eldridge also participated in the round.

The Los Angeles-based company also secured a $1.1…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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