May Mobility raises $111 million
Self-driving shuttle startup May Mobility has closed a $111 million Series C round of funding, with participation from several investors including Tokio Marine and State Farm Ventures.
In addition to the new round of funding, May Mobility is continuing its collaboration with Toyota. Sienna Autono-MaaS vehicle platforms modified by May Mobility have already been launched for testing and demonstrations in Ann Arbor, with other public deployment locations anticipated in late 2022. The program also features an ADA-compliant up-fit through the company’s partnership with Braunability.
“With the close of this latest investment round, May Mobility will continue to accelerate growth in our technology, business development and platforms, all with a global reach. Our additional investors, as well as our continued strategic collaboration with Toyota and others, will enable us to march toward driver-out commercial operations in 2023 and enable our expansion into new markets as we roll out more Toyota Sienna Autono-MaaS vehicles now and look to next generation platforms, such as the e-Palette.” – Edwin Olson, CEO of May Mobility.
“The insurance industry sees the future of mobility and is recognizing the importance of helping to design the way insurance will support autonomous vehicles in the future. Having partners like Tokio Marine and State Farm Ventures helps expedite that vision for the future of mobility.” – Ryan Green, CFO of May Mobility.
“May Mobility’s technology is a potential compelling advancement in the evolution of autonomous driving and may help to reduce accidents and improve road safety.” – Michael Remmes, VP, State Farm Ventures.