SAN FRANCISCO -

Millions of dollars continue to be poured into the developing carsharing space.

Building on momentum generated during the past 18 months, Getaround — a carsharing platform that can help users instantly rent and drive vehicles shared by people in their city — on Tuesday announced its Series D financing round, totaling $300 million. The round was led by SoftBank, with further participation from Toyota Motor Corp., and inside investors.

Getaround highlighted that its unique solution can provide instant and keyless carsharing through its patented, integrated hardware and software platform, improving efficiency by eliminating the need for manual key exchange between renters and owners.

In addition, Getaround pointed out that its patented technology paved the way for industry partnerships, including integrations with global leaders in mobility such as Uber Technologies and Toyota Motor Corp.

“Over the past year, we expanded to new markets, accelerated growth in existing markets and formed integrated partnerships with industry-leading automakers and mobility companies to bring Getaround to more people in more places,” said Sam Zaid, Getaround founder and chief executive officer.

“SoftBank is the premier global investor in mobility, and has tremendous experience working with transportation brands like ours,” Zaid continued. “We are confident in our product, playbook, and team—alongside the strong support from both SoftBank and previous investors, we look forward to leading the growth of next-generation carsharing.”

Getaround explained that it will use the additional capital to continue growing and expanding into new cities in North America and around the world. The company will also use the capital to develop mobility partnerships, launch new product offerings, create operational efficiencies and continue innovating on its connected car technology.

“SoftBank sees carsharing as an accelerating trend that will disrupt car ownership,” said Michael Ronen, managing partner of SoftBank Investment Advisers. “We believe that Getaround is uniquely placed to capitalize on this by creating a marketplace that makes it easy for car owners, car renters, ride-hailing drivers and others to transact seamlessly.

“Getaround was the first to successfully leverage connected car technology to create an on-demand carsharing network at scale, has proven its ability to effectively expand into new markets, and develop integrations with large mobility partners such as Uber and leading automakers such as Toyota,” Ronen continued.

This Series D financing marks another major milestone for the company.

Since announcing its Series C funding in April of last year, Getaround has executed its playbook to rapidly expand and scale new markets — where it has seen booked hours increase 7.5 times. Getaround is now available in 66 cities across the United States, with notable markets launched in the past year, including Boston, New Jersey, Los Angeles, Seattle, San Jose, Calif., and Philadelphia — all of which are growing 3 times faster than Getaround’s first market of San Francisco.

In May of last year, Getaround and Uber first built on Getaround’s platform to launch an instant booking experience for potential drivers, empowering people without cars to earn money driving with Uber.

Following this success, the companies together launched “Uber Rent powered by Getaround” in April, allowing people to instantly rent and access Getaround cars directly through the Uber app.

During the same period, Getaround and Toyota expanded on their initial 2017 collaboration to create an innovative fully-connected sharing experience. Together the companies have created a seamless car-sharing for Toyota and Lexus brand vehicles through the integration of Getaround’s platform with Toyota’s Smart Key Box (SKB) technology, alongside financial innovations that enable owners to make their monthly vehicle payment from their Getaround earnings.

For more information, visit Getaround.com.