Last quarter, Ann Arbor-based May Mobility announced a Series C-round investment of $111 million by U.S. auto insurance company State Farm, Japanese insurance company Tokio Marine, and others. “The insurance industry sees the future of mobility and is recognizing the importance of helping to design the way insurance will support autonomous vehicles in the future,” said Ryan Green, CFO of May Mobility. “Having partners like Tokio Marine and State Farm Ventures helps expedite that vision for the future of mobility.”
State Farm Ventures Vice President, Michael Remmes, shares, “May Mobility’s technology is a potential compelling advancement in the evolution of autonomous driving and may help to reduce accidents and improve road safety.”
May Mobility in sharing the investment news via a press release adds that it “is also continuing its collaboration with Toyota” having begun “initial development work on incorporating the company’s ADK onto the Toyota e-Pallette, a battery-electric vehicle platform that is positioned to further transform the future of mobility”, according to the company.
It is unclear whether the investment by State Farm Ventures includes access to State Farm Mutual Automobile Insurance Company patent portfolio we shared in the Ocean Tomo Autonomous Vehicle Industry Report released earlier this year. What is clear is that this investment continues to demonstrate the role technology disrupter partnerships will play in the development of this industry.
The Ocean Tomo Autonomous Vehicle Industry Report examines the components of market value, challenges and changes in the autonomous vehicle marketplace, and the increasingly critical role intellectual property (IP) licensing is playing in the industry. The report is available to download here.
The report shares unique insights related to technology and the intellectual property driving business value. The reports reflect on leading market participants, current industry trends, and important deal activity. The report provides industry predictions, emerging industry partnerships, and analysis of intellectual property protection considerations.
In 2018 Ocean Tomo launched a series of Industry Analyst Reports providing a comprehensive look at current industry trends and deal activity. As a financial advisor focusing on technology and intellectual property (IP), Ocean Tomo has gained unique insights from more than 1000 engagements involving more than 150 industry segments. This experience has allowed us to understand the nuances of intellectual property protection, valuation, and monetization across industries. Our reports currently examine the following industries: Blockchain & Cryptocurrency, Cannabis, Cybersecurity, Federal Use of Technology, IP Licensing Companies, IP Market Support Services, and Semiconductors. You can learn more about the industries covered by Ocean Tomo here.
To learn more about the report and implications for your intellectual property assets and strategies, please contact Ocean Tomo Autonomous Vehicle Industry Analyst Tucker Goebeler at firstname.lastname@example.org or +1 (312) 377-4850.