Tokio Marine backs May Mobility
Ann Arbor-based self-driving shuttle startup May Mobility closed an $83 million Series C funding round, bringing its total funding to $166 million.
Investors include 1843 Capital, Bay Lake Ventures, BMW i Ventures, Cyrus Capital Partners, Millennium Technology Value Partners, Mirai Creation Fund, Tokio Marine (Asia) , Toyota Tsusho, and Toyota AI Ventures.
Founded in 2017, May Mobility’s autonomous shuttles provided more than 300,000 revenue-generating rides and launched services in nine cities, including their first international deployment in Higashihiroshima, Japan. Its most recent deployments include Ann Arbor, Michigan, in October and Fishers, Indiana, in collaboration with Toyota Mobility Foundation in December.
“With this initial Series C funding, our latest group of global strategic investment partners will enable us to rapidly deploy our technology on Toyota’s autonomous-ready platforms, including the Sienna Autono-MaaS. We will continue to challenge the status quo of transit by reshaping the future of the AV industry.” – Edwin Olson, CEO of May Mobility.