Next Century Ventures (NCV), the corporate venture capital arm of Nexen Tire, announced that it has invested in May Mobility.
Founded in the U.S. in 2017, May Mobility works with cities and private entities across the U.S. and Japan to deploy autonomous vehicles that bridge gaps in transportation, including routes in Michigan, Indiana and Texas, as well as Higashi-Hiroshima City, Japan. May Mobility is also expanding its business through partnerships with mobility companies such as Monet Technologies and Via Transportation, the company says. Along with Nexen Tire, major investors include Toyota, BMW and LG Technology Ventures.
Launched in March 2021 through a joint investment with Nexen Corp., the holding company of Nexen Tire, NCV states that its mission is to accelerate the corporate vision of improving overall customer mobility beyond tires by targeting innovative entrepreneurs that possess expertise in technologies such as autonomous vehicles, electric vehicles, artificial intelligence and mobility-as-a-service (MaaS). In December 2021, NCV made its inaugural investment in ANRA Technologies, a provider of drone traffic management solutions.