Volvo has bought the assets of Luxe, the Hertz and Alphabet-backed on-demand parking service that had raised $75m and was reportedly valued at $140m 18 months ago.
Carmaker Volvo has paid an undisclosed sum to acquire the assets of Luxe, a US-based on-demand valet parking service backed by car rental firm Hertz and internet technology group Alphabet.
Founded in 2014, Luxe operated an app-based service that allowed users to organise valet parking as well as a range of other services including washing, refuelling and oil changes.
Luxe was valued at $140m as of its April 2016 series B round according to Pitchbook, but a source close to…
