May Mobility raises USD50 million in Toyota-led Series B financing round
The company will use the funds to expand its vehicle fleet to meet growing demands and also on new hiring in engineering and operations teams
May Mobility has raised USD50 million in the Series B financing round, lead by Toyota Motor, the company said in a press release on 4 December. Apart from Toyota, the latest financing round was participated by SPARX Group. In addition, Millennium Technology Value Partners, Cyrus Capital Partners, BMW iVentures, and Toyota AI Ventures who invested in May Mobility’s previous financing round, also participated in Series B funding round. May Mobility will use the net proceeds from the latest financing round to expand its vehicle fleet to meet growing demand and also on new hiring in engineering and operations teams.
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