May Mobility, an Ann Arbor, MI-based autonomous vehicle (AV) technology company, raised USD111M in Series C funding.
The round was led by SPARX Group Co., Ltd.’s Mirai Creation Fund II with participation from Tokio Marine, Toyota Tsusho, Bridgestone Americas, Toyota Ventures, Millennium Technology Value Partners, Cyrus Capital Partners, LG Technology Ventures, Maven Ventures, SoftBank, State Farm Ventures, Next Century Ventures, SAIC, Wanxiang, Karma and 10x Group.
The company intends to use the funds to continue to pursue its deployment programs using the Toyota Sienna Autono-MaaS vehicle platform while beginning development on another vehicle design centered around mobility, Toyota’s e-Palette. In addition, May Mobility plans to increase its engineering headcount, expand its global customer base, enhance rider experiences and further invest in technology advancements.
Led by Edwin Olson, CEO, May Mobility has developed a proprietary Multi-Policy Decision Making (MPDM) system which has delivered more than 320,000 autonomy-enabled rides to date in several public transit applications across the U.S. and Japan. Key strategic partnerships include some of the innovative automotive and transportation companies, such as Toyota Motor Corporation, May Mobility aims to achieve the highest standard in rider safety, sustainability, and transportation equity.
FinSMEs
12/07/2022