Carsharing Service RelayRides Raises Another $3 Million, Led By GM Ventures

RelayRides, a car-sharing service that lets you rent (or rent out) cars a few hours at a time, has raised an additional $3 million in funding, adding on to the company's Series A round that now totals $13M. More important than the money is who took part in the round: it was led by General Motors Ventures, with participation from the company's existing investors. The funding is connected to a recent deal that?RelayRides forged with GM, which will allow RelayRides users to tap into the OnStar system that has come equipped on all GM cars since 2005 (that's around 15 million cars). After connecting their OnStar accounts to RelayRides, renters will be able to remotely unlock the cars they've signed up for using their mobile phones, without having to deal with swapping physical keys.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/gwmU0o-svyo/

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