More Venture-Capital Money Is Going Into Fewer Startup Deals

It has been a fast ride for Mexico City-based startup Grin Inc., which wants to bring shared electric scooters to market throughout Latin America.

Grin incorporated in April and launched its operations in July while at the Silicon Valley startup boot camp Y Combinator, where investors swooped in to give it a $20 million check. By October, it had raised $25 million more.

The rapid fundraising has been “amazing, as a founder,” says Grin co-founder Sergio Romo, who says the investments valued the company at $182 million. “We knew if we wanted to be competitive in the space and move fast, we needed to raise a big round.”

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