May Mobility is preparing to make their Wall Street debut. And they’re aiming to build the future of software for autonomous vehicles.
What’s happening:
- May Mobility has entered into a business combination with ACP Holdings (NASDAQ: ACGC) to become a publicly traded company on the Nasdaq
By the numbers:
- The SPAC deal with ACP Holdings gives May Mobility a valuation of roughly $1.4B USD
Why it matters:
- May Mobility has developed a proprietary software platform for autonomous vehicles that enables driverless vehicles to navigate city streets using an on-vehicle system that simulates thousands of potential outcomes per second and decides upon the safest action
Going deeper:
- May Mobility’s software has been used in more than 550,000 autonomous vehicle rides over 1.1M miles in Japan and the United States
- Lyft (NASDAQ: LYFT) currently has a multi-year partnership with May Mobility to offer Lyft users rides in May Mobility’s fleet of autonomous Toyota Siennas that run on their software platform
The intrigue:
- Toyota co-led May Mobility’s seed round as well as their Series B financing round
