May Mobility Announces $105M Series D Led by NTT Group
Gunderson Dettmer represented client May Mobility, a leader in the development and deployment of autonomous vehicle (AV) technology, in its $105 million Series D financing led by NTT Group. May Mobility partners with cities, transit agencies, municipalities and government agencies to transform cities through autonomous vehicle technology, driving more accessible and sustainable transportation to fill the gaps in existing transportation infrastructure.
The new capital included participation by Toyota Ventures, Aioi Nissay Dowa Insurance Company, State Farm Ventures®, BMW i Ventures, Cyrus Capital, Millennium and Trucks Venture Capital. The investment will support May Mobility in scaling operations and accelerate the advancement and commercialization of its AV technology and services in the United States, Canada and Japan.
In the announcement of the transaction, May Mobility CEO and co-founder Edwin Olson said, “Our success in this fundraising is a strong validation of May’s proven business model and provides the fuel and momentum to realize our next phase of growth. Our approach has been to work with best-in-class partners to bring our technology and services to market and we’re excited to partner with a leading multinational technology firm of NTT’s caliber and to develop our business in Japan together."
The Gunderson Dettmer deal team was led by Marcia Hatch, Jenny Whalen-Ball, Charlie Sorge, Peter Schoch, and Julie Bateman.