Startup profile · funding coverage
May Mobility funding, valuation and investors
Ann Arbor AV company that agreed a $1.4B EV SPAC with ACGC on September 16, 2026 — not closed; 2025 revenue about $10M.
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Funding, valuation & investors
Answer-first snapshotLatest funding
Series C
$111M · July 2022
Latest known valuation
$1.4B pro forma EV
SPAC agreement (ACGC) · September 2026
Total disclosed equity funding
$111M
Excludes debt, grants, acquisitions, secondaries, and IPO proceeds.
Current status
private
growth · Ann Arbor, MI
Investors in latest funding
Lead: Mirai Creation Fund
Latest tracked event: SPAC agreement (ACGC) (September 2026). It is shown separately because it is not counted as disclosed equity funding.
Overview
May Mobility develops autonomous driving software and sells Autonomy-as-a-Service to ride-hail and fleet partners. Founded 2017 by Edwin Olson, Alisyn Malek, and Steve Vozar; headquarters 650 Avis Drive, Ann Arbor, MI. On September 16, 2026 the company and ACP Holdings Acquisition Corp. (Nasdaq: ACGC) announced a definitive business combination implying about $1.4 billion pro forma enterprise value and up to $337 million of gross proceeds ($120 million committed PIPE plus up to $217 million of trust cash subject to redemptions). Expected listing is Nasdaq: MAY if the deal closes; MAY is not trading. The company said it generated about $10 million of 2025 revenue at a 27% gross margin, burned about $93 million of cash in 2025, has raised about $445 million since 2017, and completed more than 550,000 commercial autonomous rides across 1.1 million miles. NTT led Series D and E per the announcement. July 2022 Series C was $111 million led by Mirai Creation Fund. Status remains private until close.
Why May Mobility is interesting
September 16, 2026: business combination with ACP Holdings (Nasdaq: ACGC) at about $1.4 billion pro forma enterprise value. That is a listing mark, not a venture raise. Up to $337 million of proceeds is redemption-sensitive. Company printed about $10 million of 2025 revenue and about $93 million of cash burn.
Product & use cases
On-vehicle autonomous driving stack sold as Autonomy-as-a-Service. Partners own and operate vehicles; May Mobility takes fixed or per-trip software fees.
- Ride-hail AV deployments with Uber, Lyft, Grab, and CaoCao
- Municipal and campus autonomous transit
- Licensed Japan operations with NTT as exclusive operator
Key facts
- Sep 16, 2026: agreed $1.4B pro forma EV SPAC with ACGC — not a raise, not closed
- Up to $337M proceeds: $120M PIPE + up to $217M trust (redemptions can cut the trust line)
- 2025 company P&L: ~$10M revenue, 27% GM, ~$93M cash burn
- ~$445M lifetime equity; NTT led Series D and E (company). Series C $111M (Jul 2022, Mirai)
- Expected ticker MAY is not live. Status remains private.
Funding history (newest first)
SPAC agreement (ACGC)
2026-09 Up to $337M proceeds Valuation: $1.4B pro forma EV- ACP Holdings Acquisition Corp.
- Atlas Credit Partners
Source: Read source · maymobility.com
Competitive landscape
Edge: A partnership model that printed $10 million of 2025 revenue against a $1.4 billion SPAC EV — the listing test is redemptions and 2026 deployments, not whether Ann Arbor has an AV company.
May Mobility is selling a listing on partnership AV, not current revenue scale. Compare it with Waymo as an operator model, not as a like-for-like 2025 sales print.
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Waymo direct
Alphabet robotaxi operator. Asset-heavy fleet owner versus May’s partner-operated model.
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Cruise direct
GM robotaxi competitor.
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Zoox direct
Amazon AV unit.
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Aurora / Kodiak adjacent
Public trucking autonomy. Company distinguishes itself as ride-hail, not trucking.
Market / IPO context
Ticker: MAY (Nasdaq)
IPO status: rumored
Note: Agreed SPAC with ACGC announced September 16, 2026. $1.4B is pro forma EV, not a live market cap. MAY is the expected ticker if the deal closes; ACGC is the live SPAC ticker. Not public yet.
Editorial / static context — not a live quote.
Related funding articles
Venture Capital Tracker pieces that cover May Mobility's financing or category context.
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