General Motors has made further assets into Yoshi, a Silicon Area start-up that provides a variety of on-demand vehicle maintenance and support services.
According to a recent report from CNBC , Common Motors is leading a $23 million funding round for the start up. The new investment follows an initial purchase from GENERAL MOTORS Ventures , the automaker’s investment capital arm, made during Series The funding in 2018. Previous traders include venture capital firm Arab Angel, professional NBA athlete Kevin Pendant, and energy giant ExxonMobil.
The new funding will be utilized for hiring and service expansion.
Founded in 2015, Yoshi began as an on-demand fueling provider in California, filling an owner’s tank wherever the customer’s automobile would be parked. Now, the company offers expanded to offer things like car cleaning services, windshield service, and essential oil changes. Yoshi currently operates within Houston, San Francisco, Los Angeles, and Nashville.
Back in June, General Engines offered Yoshi’s services for salaried and hourly employees at a choice of plants and campuses in The state of michigan.
Membership subscription costs to the Yoshi on-demand service cost $20 per month, or $16 a month for a yearly subscription, with costs per service varying.
Per the recent CNBC report, Yoshi conducts tens of thousands of services monthly, and it has some 200, 000 registered automobiles to its platform. Three-quarters from the company’s revenue comes from fueling solutions.
According to company co-founder plus CEO Bryan Frist, plans have been in the works to offer EV getting services similar to the on-demand fuel fill-ups, which could complement General Motors’ programs to offer 20 new all-electric vehicles in North America by 2025.
According to Frist, the COVID-19 pandemic has increased demand for contactless services, such as those which Yoshi provides.
“Covid has been fascinating for us, ” Frist told CNBC . “We certainly took a huge hit when Covid hit but we are now nearing the levels that we were at entering it. ”