News — VentureCapital

As COVID-19 swept across the globe, no sector lay untouched, but perhaps no industry was more disrupted than transportation. Airlines slashed routes, public transit use plummeted, ridership on Uber, Lyft and other ride-hailing platforms dropped and shared scooter companies pulled products from city streets. Meanwhile, e-bike sales bloomed and on-demand delivery, including services using autonomous robots, exploded. Transportation companies have been forced to adapt — quickly — to this new reality. Uber, for example, found itself in a position where it felt both right to lay off thousands of employees as it planned to inject $170 million into micromobility startup...