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.