In a resounding move towards revolutionizing autonomous vehicle (AV) technology, US-based May Mobility has clinched an impressive $105 million in Series D funding. Spearheaded by Japanese telecommunications giant NTT Group, the equity round boasts participation from a lineup of financial and strategic investors, including Toyota Ventures, Aioi Nissay Dowa Insurance Company, State Farm Ventures®, BMW i Ventures, Cyrus Capital, Trucks Venture Capital, and Millennium Technology Value Partners. This funding milestone propels May Mobility's total funds raised to a formidable nearly $300 million, setting the stage for groundbreaking advancements.
May Mobility, a pioneering force founded by Alisyn Malek, Edwin Olson, and Steve Vozar in 2017, aims to reshape urban landscapes through cutting-edge AV technology. Unlike traditional approaches, May Mobility focuses on making AV tech accessible to all, fostering sustainable transportation, safer roads, and addressing gaps in existing infrastructure. By partnering with cities, transit agencies, and government bodies, May Mobility endeavors to solve real-world transportation challenges for communities.
At the heart of May Mobility's success lies its proprietary Multi-Policy Decision Making (MPDM) technology. This adaptive system excels in handling unforeseen situations, offering the unique ability to envision multiple scenarios in real time. This innovative approach allows May Mobility to scale into new markets and cities with a fraction of the capital typically required by other AV systems. Currently deployed in 12 cities across the U.S. and Japan, May Mobility's AVs are making waves in Arlington, Tex., Ann Arbor, Mich., Contra Costa, Cali., Detroit, Mich., Grand Rapids, Minn., Sun City, Ariz., with more cities slated to embrace this transformative tech in the coming months.
In a strategic move, NTT Group has secured exclusive rights to distribute May Mobility's proprietary driverless technology in Japan. Collaborating with Toyota Motor Corporation, a key player in May Mobility's Series B and C rounds, the trio aims to develop a robust autonomous driving ecosystem. This partnership not only accelerates May Mobility's global expansion but also signifies a collaborative effort towards shaping the future of AV technology.