© alexandragl dreamstime.com General | February 14, 2019
Series A funding fuels May Mobility’s momentum
Millennium New Horizons and Cyrus Capital Partners have joined May Mobility’s investor-base, co-leading a USD 22 million 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.
This funding will enable May to expand engineering and operations to meet growing demand. Currently, May Mobility focuses on the USD 28 billion last-mile transportation market—short trips in urban cores including downtown Detroit, Michigan and Columbus, Ohio. These high-density routes, which provide a much-needed solution for customers and riders, are challenging for traditional autonomous vehicles. In the coming months, May Mobility will launch public services in Grand Rapids, Michigan and Providence, Rhode Island, with plans to announce additional commercial deployments in cities across the U.S. in 2019. Benjamin Birnbaum, co-founder of Repower Group, a Cyrus Capital affiliate said, “Simply put, we believe that the future of urban transportation is shared, electric, and autonomous. May Mobility has a uniquely talented team, a scalable operating model, and is already solving mission critical challenges for its customer base that meet this vision.”