Ann Arbor autonomous shuttle service May Mobility Inc. secured an additional $22 million in funding led by New York investment firms. New York’s Millennium New Horizons and Cyprus Capital Partners LP led the Series A funding round and were joined by LG Technology Ventures, Thayer Ventures and its previous investors BMW i Ventures, General Motor’s Maven Ventures, Toyota AI Ventures and Y Combinator.BMW, GM, Toyota and others provided May Mobility with $11.5 million in seed capital in 2018.May Mobility, which launched self-driving city shuttles in Detroit and Columbus, Ohio, plan to use the new funding to expand its engineering and operations groups as it prepares to offer services in new cities, the company said in a press release. The company currently employs approximately 50 people. It plans to launch services in Grand Rapids and Providence, R.I., in 2019. May Mobility will deploy four of its shuttles in Grand Rapids, Crain’s reported in September. The shuttles will run a three-mile loop, connecting riders to downtown jobs and businesses.In Detroit, May Mobility teamed with Bedrock LLC in Detroit to become the first company to launch self-driving vehicles on public roads in the city last summer. The fleet carries Bedrock employees to and… Read full this story
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