Global Brain makes follow-on investment in taxi operator newmo
SMFG•Global Brain will make an additional investment in newmo through Global Brain Flagship Fund IX, while SMBC-GB Growth Fund will also participate in the funding round. Newmo aims to grow its fleet from approximately 1,900 taxis to 10,000 and commercialize autonomous taxi services by 2028.
1. Funding and expansion plans
Global Brain will make an additional investment in newmo through Global Brain Flagship Fund IX, and SMBC-GB Growth Fund will also participate in the funding round. Newmo aims to expand its approximately 1,900-taxi fleet to 10,000 vehicles through acquisitions and entry into new regions. The taxi operator targets commercializing autonomous taxi services by 2028, with trials underway in Osaka City and Sakai City.
