Reef Technology Raises Big Funds As Parking Lots Show Distress Signs

by businessinsider.com posted 8months ago 66 views
Summary List Placement REEF Technology, the parking lot operator that's reimagining parking space as hubs for light logistics and ghost kitchens, announced last week that it has raised funds to double the size of its operations to 10,000 lots and garages. The money comes in two tranches: a $700 million growth equity round led by the Abu Dhabi's sovereign wealth fund, Mubadala Capital, with participation from previous investor SoftBank Vision Fund, UBS Asset Management, German venture firm Target Global, and funds managed by Oaktree Capital Management.

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