May Mobility, a developer of autonomous shuttle services, has raised USD 105 million in a Series D round led by NTT Group, with participation from Toyota Ventures, Aioi Nissay Dowa Insurance Company, State Farm Ventures, BMW i Ventures, Cyrus Capital, and Trucks Venture Capital. This brings the total funding to USD 300 million.

The company intends to utilize the funds to commercialize its technology and to expand its autonomous transit services in the US, Canada, and Japan. It also intends to upscale operations and aim for profitability.

Furthermore, NTT will have exclusive rights to sell May Mobility's self-driving system in Japan. The companies will also work with Toyota to establish an autonomous driving ecosystem and, in cooperation with local partners, deploy vehicles equipped with May Mobility's technology on various vehicle platforms to enhance Japan's transportation networks.

So far, May Mobility has facilitated over 350,000 autonomous rides in various public transit applications across the US and Japan.

Analyst QuickTake: May Mobility has a track record of attracting investments from Japanese entities and counts investors such as Toyota Tsusho, Tokio Marine, and returning investor Toyota Ventures. Today’s news on expansion in Japan comes on the heels of Honda Motors announcing planning to establish a joint venture with General Motors and Cruise for a robotaxi service in Japan from early 2026. However, it's worth noting that Cruise suspended its US driverless robotaxi operations also in October due to a regulatory order following an accident.