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Venture Capital News: May Mobility Completes $111M Series C Round

2022-07-12
ANN ARBOR, MI, May Mobility, a leader in the development and deployment of autonomous vehicle (AV) technology, today closed a $111 million Series C round of funding.
Additionally, the company plans 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, signaling the next potential milestone as it seeks new ways to bring equitable mobility solutions to the masses.

SoftBank, State Farm Ventures, Next Century Ventures, SAIC, Wanxiang, Karma and 10x Group join the list of partners committed to the company's mission of driving a greener, more accessible future through mobility. The round was led by SPARX Group Co., Ltd.'s Mirai Creation Fund II alongside Tokio Marine, Toyota Tsusho, Bridgestone Americas and returning investors Toyota Ventures, Millennium Technology Value Partners, Cyrus Capital Partners, LG Technology Ventures and Maven Ventures, among others.

May Mobility is building the world's best autonomy system. Their proprietary Multi-Policy Decision Making (MPDM) system is at the core of their mission to help make cities safer, greener, and more accessible. MPDM's proven track record has delivered more than 320,000 autonomy-enabled rides to date in several public transit applications across the U.S. and Japan. With key strategic partnerships including some of the world's most 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.
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