#Japan #Tokyo #Mobility Services #Newmo #Autonomous Taxi

newmo's Ambitious Step into the Future of Transportation

newmo Inc., based in Minato City, Tokyo, has successfully closed its Series A funding round, raising an impressive 17.9 billion yen (approximately $162 million) through third-party private placements. This latest round includes investments from 12 domestic financial institutions and new private investors, bringing the company's total fundraising to an impressive 19.9 billion yen since its inception.

Founded in January 2024, newmo has quickly positioned itself as a leader in the mobility startup sector, focusing on developing sustainable regional transportation solutions. Currently, the company has enlisted three taxi operators in Osaka Prefecture, boasting a fleet of over 1,000 vehicles and a dedicated workforce exceeding 1,500 employees. Their services include taxi operations, ride-sharing, and a dispatch application, all while leveraging AI technology for digital transformations of taxi company operations, streamlining operations, and enhancing management efficiency.

The Series A funding has been gradually executed throughout 2024, with this latest investment notably featuring venture capital from regional financial institutions. These new investors are highly optimistic regarding newmo's approach to not only improving existing mobility services but also introducing innovative offerings to address local challenges and optimally utilize community resources.

New Investors in newmo

Investment has come from various stakeholders, including:

• - Dual Bridge Capital
• - Iwagin Mirai Invest
• - Kiyo Capital Management
• - Kyoshin Social Capital
• - Gōgin Capital
• - Nippon Life Capital
• - Hokuhoku Capital
• - Hiroshima Venture Capital
• - Fidea Capital
• - Miraidoor
• - Resona Capital
• - Ryukyu Capital
• - Other individual investors

Note: Names are listed in alphabetical order.

Addressing Societal Challenges

In response to the anticipated challenges of population decline and a shortage of service providers, newmo has committed to continued investment in mobility services such as taxis. The company has also officially decided to enter the autonomous taxi market, initiating efforts aimed at commercializing this service in Osaka.

With a mission of “Coloring Communities through Mobility,” newmo aims to build a sustainable transportation infrastructure that leverages local resources paired with technology. Their goal is to make a meaningful impact on the future of local communities by fundamentally addressing their transportation needs.

Company Profile

• - Corporate Name: newmo Inc.
• - CEO: Naoki Aoyagi
• - Founded: January 4, 2024
• - Website: newmo.me

Headquarters

• - Tokyo Office: 13F, Toranomon 37 Mori Bldg, 3-5-1 Toranomon, Minato-ku, Tokyo 105-0001
• - Osaka Office: 1-8-2 Yakumo-higashi, Moriguchi-shi, Osaka 570-0021 (inside Mirai-to Co.)

In summary, newmo's aggressive expansion into the autonomous taxi market and sustainable transport initiatives mark it as a noteworthy player in the mobility sector. It is poised to shape the future of transportation in Japan and beyond.