NYC Mayor de Blasio Shuts Down Revel Service

Posted on 07/28/2020

Based in Silicon Valley, Toyota AI Ventures is a venture capital subsidiary of the Toyota Research Institute (TRI). Revel is an electric scooter rental service. In October 2019, Toyota AI Ventures invested a US$ 27.6 million Series A round in Revel. The Series A round was led by investment firm Ibex Investors.

New York City Mayor Bill de Blasio shut down Revel in New York City, following the deaths of two riders in a span of 10 days. Jeremy Malave, aged 32, died in the early hours of July 28, 2020 in Queens. CBS Reporter Nina Kapur, aged 26, died on July 18, 2020.

Get News Stories Delivered to Your Inbox