Motional develops autonomous vehicle technology and aims to operate driverless robotaxi services using vehicles such as the Hyundai Ioniq 5. The company has been testing AVs with safety drivers in Boston, Pittsburgh, Las Vegas, Los Angeles and Singapore and partners with ride‑hail platforms including Uber, Lyft and Via. Motional announced plans to launch a driverless Ioniq 5 robotaxi service in 2024 and is co-developing production-ready Ioniq 5 robotaxis at Hyundai’s HMGICS in Singapore, and has also announced a collaboration with Kia on a next-generation vehicle. The startup has not yet begun charging for rides or deliveries and previously secured a bridge loan of undisclosed size as a lifeline while seeking longer-term funding. Motional began as Boston-based nuTonomy in 2013, was acquired by Delphi, and became Motional under a $4 billion Hyundai‑Aptiv joint venture in 2019. Financially, Aptiv is stepping back from allocating capital to Motional while Hyundai has moved to provide substantial funding and assume majority control.

Total raised

$475M

Funding rounds

1

Latest round

Equity

Latest activity

May 2024