Source: Bloomberg
Summary
Regatta, a Los Angeles-based startup, has raised $50 million in funding from investors including Eclipse, Andreessen Horowitz (a16z), and Menlo Ventures. The company plans to use the funds to expand its boat rental platform beyond sport boats.
Our Reading
The launch follows a familiar script.
Regatta’s $50 million raise is the latest in a series of investments in the boat rental space. The company’s plans to expand beyond sport boats sound ambitious, but we’ve seen this story play out before. “Because what the world really needed was another boat-sharing platform,” said no one.
Author: Evan Null
