• May Mobility

  Participated · Series C · Jul 2022

  May Mobility develops and sells autonomous vehicle systems—specifically retrofitted Toyota Sienna minivans—on geofenced routes under multi-year, multi-million-dollar contracts with cities. The company focuses on B2B deployments in mid-size municipalities rather than large-scale robotaxi rollouts, which it says enables earlier path to profitability and lower burn. May Mobility has announced deployments or deals in Ann Arbor (its HQ), Arlington, Detroit, Grand Rapids, Sun City and plans to enter Contra Costa County by early 2024, with Southeast expansion expected. Management says as AV tech advances and costs fall, the company intends to expand into other segments such as trucking, logistics and robotaxis. Financially, May Mobility has raised roughly $300 million to date, including a $105 million financing announced this week, and counts Toyota and BMW among strategic backers. May Mobility develops low-speed autonomous shuttles and vehicle platforms (including modified Toyota Sienna S-AM vehicles) for public-transportation augmentation and ride-hail use. The company currently operates vehicles in five cities — Arlington, Ann Arbor, Grand Rapids, Fishers and Hiroshima — and has about 20 S-AMs in its fleet, most in Ann Arbor. May is working with partners including Toyota, SoftBank and MONET Technologies and has begun development work to integrate its kit onto Toyota’s e-Palette platform. The startup recently completed AV pilots (for example at Hiroshima University) and plans further trials in Tokyo’s Takeshiba district. May says it will use new funding to triple corporate headcount (particularly engineering), expand U.S. and Japan deployments, and pursue driver-out operations in 2023. Its total disclosed funding to date is $194 million. May Mobility develops and operates autonomous low-speed shuttle services, with deployments in Detroit and Grand Rapids, Michigan, and Providence, Rhode Island. The company currently runs 25 autonomous shuttles across those three cities and plans to expand to roughly 25 vehicles per city to improve economics and impact. Founded in 2017, May Mobility positions itself in the transportation-as-a-service space with local shuttle fleets. The startup raised $50 million in a Series B led by Toyota, following a $22 million raise less than a year earlier. The new capital will be used to expand its AV shuttle fleet and to grow engineering and operations staff. May is working with Toyota as one of its autonomous driving providers for future open platforms and will explore pairing its technology with Toyota's e-Palette platform. May Mobility operates full-stack, low-speed autonomous vehicle fleets and provides daily public transit services for public and private customers. Its solution combines vehicle hardware and software, expert fleet operations, and a cloud-based business insights platform that monitors fleet health and ridership analytics. The company targets the $28B U.S. last-mile transportation market and currently operates commercial services in downtown Detroit, MI and Columbus, OH, with planned launches in Grand Rapids, MI and Providence, RI and additional U.S. deployments in 2019. May’s fleet has provided more than 35,000 rides in Columbus and Detroit, and the company reports it is generating revenue while collecting technical and market data. The business emphasizes scalable operations and real-world data collection to improve its technology with each mile driven. The company works with transit agencies, developers, and other partners to design and operate dependable shared mobility services. May Mobility develops and operates self-driving small shuttle fleets intended to replace existing transportation options for corporate and other clients. The company focuses on practical, route-defined autonomous solutions using currently available technology and manages fleets end-to-end, including vehicle maintenance and daily operation. Its team includes DARPA Urban Challenge participants and veterans from Ford, GM, Toyota and the University of Michigan’s automotive programs. May ran a pilot with Detroit-based Bedrock in October that the company says demonstrated its technology and service readiness. The company raised $11.5 million in seed funding and plans to use the proceeds to hire additional employees and expand coverage to more U.S. cities by the end of 2018. It intends to launch its first commercial operations later in 2018.

• Aurora Labs

  Participated · Series B · Sep 2020

  Aurora Labs offers an AI-based Vehicle Software Intelligence platform that spans the full vehicle software lifecycle from development and testing to continuous certification and on-the-road, zero-downtime OTA updates. The company’s solutions collect actionable data to analyze line-of-code behavior, help streamline development, testing, integration and WP.29 compliance, and protect software from faults and cybersecurity attacks. Aurora Labs positions its technology as a cost-saving enabler for software-defined vehicles, claiming up to 98% savings on hardware and data transmission costs for updates and up to 30% savings in software engineering hours. Its products have been adopted on customer platforms globally and the company commits to ISO-26262/ASIL-D and ASPICE-L2 compliance for deployment in upcoming car models. Aurora Labs holds 90 patents and has 15 customer projects worldwide. The company is headquartered in Tel Aviv, Israel, with offices in Germany, North Macedonia, the US, and Japan, and has raised approximately $100 million to date. Aurora Labs developed a platform that detects and predicts software problems in vehicles and automatically fixes issues in real time. The platform also enables automakers to deliver over-the-air software updates. The company is Tel Aviv-based and currently focuses primarily on automotive customers while preparing to enter connected homes and smart cities. Aurora Labs works with four global automakers and an electronics company and is moving toward series production with two automotive customers. It has a 30-person team and plans to double headcount using the newly raised funds. Investors are expected to help support expansion into additional markets given their presence across industries. Aurora Labs has built a platform that detects and predicts software problems in vehicles, automatically fixes issues on the fly, and provides over-the-air updates for electronic control units. The technology aims to reduce costly software-related recalls and downtime as vehicles grow more software-dependent. The company says it has locked in three unnamed automakers as customers and currently has pilots underway. Aurora Labs emerged from stealth a few months ago and is headquartered in Tel Aviv with a new office in Munich. The firm has 17 employees and plans to add more staff by year-end and open sales offices in Detroit and San Francisco. CEO and co-founder Zohar Fox and co-founder Ori Lederman see the product addressing needs for both connected cars and future autonomous vehicles. Aurora Labs develops a self-healing software platform for connected cars that monitors on-board vehicle software to detect anomalies before they lead to malfunctions. The platform generates new datasets for diagnostic purposes and enables providers to dispatch universal Delta Over-the-Air (OTA) updates for any vehicle system. The technology is aimed at proactively managing and reducing the costs of multibillion-dollar software recalls in the automotive industry. Aurora Labs came out of stealth with $2.7M in seed funding and intends to use the funds to run several live projects with major OEMs. The seed round was backed by Maniv Mobility, MizMaa Ventures, Expansion Venture Capital and Trucks Venture Capital. Founded in 2016 by Zohar Fox (CEO) and Ori Lederman (COO), the company is based in Tel Aviv, Israel.

• Shuttl

  Led · Series C · Nov 2019

  Shuttl runs an app-based bus-aggregation service that schedules pickup points and operates around 2,000 buses serving over 100,000 rides daily across six Indian cities. The company emphasizes safety features — including an emergency button that slows the bus, live-feed sharing, driver identity checks and instant alcohol tests — which has helped attract a rider base that is over 40% female. Customers book in advance through the app and are authenticated before boarding; Shuttl has added routes in New Delhi, Chennai and Kolkata and is pursuing further expansion within and beyond its current six-city footprint. The startup has experimented with value-added services such as providing meals on buses and plans to explore additional offerings to leverage its logistics network. Financially, Shuttl doubled revenue in the fiscal year ended March, with revenue crossing 100 crore INR (about $14 million). The company is based in Gurgaon and counts Amazon among its investors. Shuttl operates an intracity bus-aggregation service using technology features such as sound authentication, home check, and ride-sharing to improve the commute experience. The company runs in nine cities including Delhi NCR, Bengaluru, Pune, Chennai, Hyderabad, and Jaipur and does a little over 60,000 rides a day. It employs over 300 people, runs a fleet of more than 1,000 vehicles in Delhi NCR, and serves 500+ B2B clients including Nagarro, United Health Group, Fidelity, and GMR. Founded in April 2015 by Amit Singh and Deepanshu Malviya, Shuttl expanded by taking over customers and drivers of Hyderabad-based Commut after Careem acquired that firm's technology and talent. Financially, Shuttl is Sequoia-backed and completed an $11 million Series B in July led by Amazon India, Amazon Alexa Fund, and Dentsu Ventures. The company has recently raised back-to-back venture-debt tranches from Trifecta Capital to support rapid expansion into new cities. Shuttl operates a bus-aggregation service offering commuter shuttle rides across multiple Indian cities. The company reports operating about 800 buses and providing roughly 45,000 daily rides in five cities, with about 60,000 monthly active users. Shuttl has piloted services in Pune and Kolkata and is planning to expand into new cities while increasing presence in Delhi NCR and Jaipur. The firm recently took over customers and drivers from rival Commut after Careem acquired that startup's technology and talent. Shuttl has faced regulatory challenges, including the Delhi transport department impounding over 50 buses for permit violations. The startup is backed by investors including Sequoia Capital, Times Internet and Lightspeed Ventures and is using fresh capital to fund expansion and compete with rivals such as ZipGo. Shuttl enables Indian city dwellers to find and book seats on multiple bus routes through one app. Its platform optimizes routes and capacity and lets users track bus locations, offering convenience similar to on-demand ride services if users book a day in advance. The app includes a “Chirp” verification feature that sends a sound from passengers' phones to the driver app, powered by Chirp.io. Shuttl's platform now comprises 800 buses and it claims 60,000 monthly active users and 45,000 rides per day across five cities. Owned by Super Highway Labs and based in Gurgaon, the company was created to reduce pollution and traffic by encouraging public-transport use. The new funding is earmarked to expand the service into two new cities. Shuttl runs an app-based smart shuttle service enabling commuters to find routes, buy tickets and ride air-conditioned minibuses via iOS, Android and Windows Phone apps. The service is currently active in Delhi with 50 routes, 500 buses and about 15,000 rides per day; Shuttl says it has completed 800,000 customer rides. Ticket prices range from roughly 20–100 INR (about $0.30–$1.50). The company is focused on building a technology layer — improving route optimization and maximizing bus occupancy — to make the service efficient and move toward profitability. Shuttl plans to expand coverage across more of Delhi first and then enter other Indian megacities such as Bangalore, Mumbai and Hyderabad over a six- to 18-month horizon. The team totals around 140 people, including nearly 60 tech and data-science staff, and the company intends to double its tech and data team within six months.

• UVeye

  Led · Equity · Jul 2019

  UVeye is an AI-driven vehicle inspection technology company that provides automated, data-driven diagnostics often described as an "MRI for vehicles". Its product suite includes underbody scanners, tire analyzers, and 360-degree exterior detection systems. Those systems have been installed at hundreds of dealerships, fleet sites, and auction lots globally. Clients include Amazon and General Motors. Led by CEO Amir Hever and based in Teaneck, NJ, the company raised $191M in the latest funding round, bringing total capital raised to $380.5M. UVeye plans to use the funds to expand globally, increase large-scale manufacturing capacity, and strengthen strategic partnerships. UVeye builds automated vehicle-inspection systems that use computer vision and machine learning to quickly and accurately inspect vehicles. The company produces three inspection systems: an underbody scanner, a tire system, and a 360-degree exterior system that can scan moving vehicles in seconds. Since its founding in 2016, UVeye has secured commercial agreements with OEMs and dealers including General Motors, Volvo Cars USA and CarMax and supports dealerships, auctions, insurance companies and commercial fleets. The company employs about 200 people and is based in New Jersey and Tel Aviv, with additional offices in Japan and Germany. UVeye plans to start production of its inspection systems in North America and accelerate sales growth to reach thousands of dealerships, used-car auctions and fleets within the next three years. Management sees longer-term opportunities serving EVs, autonomous and robotaxi fleets for safety and predictive maintenance by combining vehicle sensors with UVeye's capabilities. Financially, the company has raised roughly $200 million since 2016 and its valuation is about $800 million after the latest round. UVeye develops high-speed automated vehicle-inspection systems that combine proprietary algorithms, cloud architecture, artificial intelligence, machine learning and sensor fusion. Its drive-through scanners detect external and mechanical flaws, anomalies, modifications and foreign objects from under and from any side of a vehicle, completing scans within seconds and usable across a vehicle’s lifecycle. The technology was originally developed for the security industry to detect weapons and contraband and is now applied in the automotive industry to find quality issues such as oil leaks, paint scratches, tire damage, brake-line damage and exhaust-system problems. Founded in 2016 and based in Tel Aviv, Israel, UVeye operates facilities in North America, Europe and the Asia Pacific region, with offices in Israel, Japan, Germany and the U.S. The company has 100 employees. UVeye raised $60m in Series C funding and intends to use the proceeds for global expansion. UVeye develops automated vehicle-inspection systems that combine proprietary algorithms, cloud architecture, artificial intelligence, machine learning and sensor fusion to standardize and speed previously manual inspections. Its platforms serve both homeland security and automotive customers across the vehicle lifecycle, including supplier and OEM assembly lines, new-car showrooms, dealership service departments and used-vehicle auction sites. The company has installed systems at assembly plants, auction sites and dealerships around the world and has offices in Tel Aviv, Cleveland and New York, as well as locations in Japan and Germany. UVeye is led by CEO and co-founder Amir Hever and employs more than 100 people. The company says it will use the new funds to accelerate its global expansion plans and to enable Hyundai to deploy UVeye’s products across its operations worldwide. Since it was founded four years ago, UVeye has raised more than $40m from carmakers and other strategic investors including W. R. Berkley Corporation. UVeye develops vertically integrated drive-through scanning systems (hardware and software) that capture exterior, tire and undercarriage images and use computer vision and AI to detect anomalies. Its fully automated platform can read moving cars (up to ~20 mph) and detect cosmetic anomalies as small as 2 millimeters. Customers and use cases include OEMs, rental and used-car companies, insurers, security services, governments and ride-hailing fleets for inspections, claims and lifecycle management. The company is exploring deeper integration with vehicle diagnostics and potential expansion into interior/cargo scanning and logistics/security verticals. UVeye emphasizes full automation to replace manual inspections and continues to optimize its system and scale deployment to meet demand. Financially, the company has raised a new $31M round, bringing total capital raised to about $35M.

• Zipline

  Participated · Equity · May 2019

  Zipline builds and operates autonomous fixed-wing drone systems to deliver packages, with a track record of medical supply deliveries in Africa and expanding consumer deliveries in the U.S. Its commercial roster includes partners such as Walmart and more than a dozen restaurant brands including Panera, Chipotle, and Wendy’s. The company operates across four continents and has completed about two million deliveries to date. Financially, Zipline closed an extended $800 million Series H earlier this year and was most recently valued at $7.6 billion. Under its new strategic partnership with Uber, Zipline will integrate with Uber Eats and begin deliveries in existing U.S. markets later this year, aiming to scale rapidly toward a target of one million daily deliveries by 2029. The deal is intended to accelerate mainstream adoption by pairing Zipline’s infrastructure and regulatory approvals in select markets with Uber’s on-demand marketplace.

No current team members are available.