May Mobility, the company collaborating with Toyota on its autonomous vehicle platform, just closed a $111 million round of Series C Funding.
The Ann Arbor company is working with Toyota on its Sienna Autono-MaaS vehicle platform, which is a fully autonomous Sienna sheparding in the idea of Mobility as a Service, and also being development of Toyota’s upcoming e-Pallette mobility platform.
“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,” said Edwin Olson, CEO of May Mobility. “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.”
Future development requires money, and an additional $111 million is a lot of it. Autonomous tech that can get the driver out of the vehicle has huge implications commercially, and help fund the company’s expansion into new markets.
Even with some autonomous vehicle companies laying off employees, it seems some investors and investment groups are bullish on the future tech.