$1 Billion Funding Boost for NOT A HOTEL's Mobility Ambitions
NOT A HOTEL has raised $1 billion in funding from Toyota's strategic investment arm, Toyota Invention Partners (TIP), and SBI Group. The Series D round saw a total of $1.65 billion in transactions, with the company also issuing secondary shares to existing investors.
The funds will be used to accelerate the growth of NOT A HOTEL's business and expand its operations. The company plans to leverage its partnership with TIP and JAL Group to develop a new mobility service called NOT A GARAGE. This service will allow customers to access a range of vehicles, including jets, helicopters, and cruisers, on a shared ownership model.
NOT A HOTEL has also partnered with SBI Group to provide financing options for customers purchasing its services. The company's subsidiary, NOT A HOTEL DAO, successfully raised $200 million in an initial exchange offering (IEO) of its cryptocurrency, NOT A HOTEL COIN (NAC), on GMO Coin.