Remote driving startup Vay could grab up to $410M from Singapore’s Grab
Autonomous vehicles are having a moment, and it’s making it a lot easier for smaller companies to raise money. Vay, a German startup offering remote-controlled rental cars, will get $60 million in cash from Singaporean tech heavyweight Grab, the company announced on Monday. The deal, which is subject to regulatory approval and expected to close by the end of the year, may be followed by “an additional $350M as joint milestones are achieved within the first year,” Vay CEO Thomas von der Ohe wrote on LinkedIn. The Berlin-based startup uses its technology and human operators to remotely drive rental cars to and from customers. Vay isn’t yet commercially deployed in real traffic in Germany, where it lacked regulatory clarity until recently, but the company is currently…
