Vay receives funding to develop teledrive services and autonomous technology

Teledrive mobility company Vay unveiled its expansion strategy as it raised $95 million in Series B funding. 

Vay will use the funding to launch services in Hamburg and triple the size of its team in Germany in 2022. The funding will also boost the R&D efforts in teledrive services and autonomous driving technologies. Vay plans to push forward commercial teledrive services and move gradually into autonomous technologies to secure revenues before advancing in alternative mobility solutions. 

Replacing cars with urban mobility

In 2022, the upgraded Vay App will provide a better teledrive service, as the electric VayCar will be driven to the customer by a remote driver. VayCar will park itself or move towards another customer after the passenger alights.

Vay expects the door-to-door mobility service to gain attention in the urban mobility industry and start replacing car ownership with a competitive price.

Photo of Vay car in front of the Brandenburg Gate, Berlin, courtesy of Vay.