newmo is a startup founded on January 4, 2024 and headquartered in Minato, Tokyo, that operates taxi and rideshare services. The company aims to realize "user-focused sustainable regional mobility" and to address Japan's regional transport shortages caused by labor shortages and population aging. newmo has acquired management rights of two Osaka taxi operators (Kabushiki Kaisha Kishiko and Kabushiki Kaisha Miraito) and its group currently owns 646 taxi vehicles, ranking fifth in Osaka. It plans to expand to major regions nationwide and target 3,000 taxi vehicles and 10,000 drivers by fiscal 2025. The company will use proceeds to take equity stakes in taxi operators, launch a rideshare business, and accelerate product development (operation/dispatch management system and driver/user apps). Financially, newmo completed a Series A first-close raising over ¥10 billion, bringing cumulative funding to over ¥12 billion. newmo operates taxi and ride‑share services and was founded in January 2024. The company plans to launch a ride‑share service in Osaka in autumn 2024 and has taken an equity stake in Osaka taxi operator Kishiko to run taxi operations. Using seed funding, newmo is developing customer and driver mobile apps and an operations/dispatch management system. It intends to continue capital participation in domestic taxi operators to address regional transportation challenges. The company is headquartered in Toranomon, Minato‑ku, Tokyo. Management includes co‑founders in CTO, COO and CFO roles with prior experience at LINE/Merpay, Uber/Wolt Japan and Plaid. newmo, founded in January 2024 and headquartered in Tokyo, is building a ride-share service with a focus on user experience and sustainable regional transportation. The company aims to provide safe, comfortable, and convenient mobility for users while enabling drivers to work flexibly by using spare time. newmo plans to develop customer-facing and driver-facing mobile apps as well as an operations management system to support service rollout. It also intends to take equity stakes in domestic taxi operators as part of a broader strategy to solve regional transit issues in multiple ways. The company raised capital in a seed financing to fund product development and initial business activities. newmo positions its offering to boost local and national economic activity by diversifying and improving transportation options.

Total raised

$13M

Funding rounds

3

Latest round

Series A

Latest activity

Jul 2024