May Mobility has announced that Millennium New Horizons and Cyrus Capital Partners have joined its investor-base, co-leading a $22M Series A round, with LG Technology Ventures and Thayer Ventures participating alongside return investors BMW i Ventures, Maven Ventures, Toyota AI Ventures, and Y Combinator. The round will help the company expand their engineering and operations in order to meet growing demand.
May Mobility is autonomous transportation company providing daily transit to the American public. Currently, it focuses on the $28B US last-mile transportation market — short trips in urban cores. Its commercial services currently navigate the streets of downtown Detroit, MI and Columbus, OH. These routes are in high-density areas, filling a critical need for customers and riders, but challenging for traditional autonomous vehicles.
In the coming months, May Mobility plans to announce additional commercial deployments in cities across the U.S. in 2019.
Source: Press Release