Vay raised $95 million from investors such as Kinnevik, Coatue and Eurazeo as it plans to launch its first car-rental service in Hamburg next year.
see photosVay currently uses KIA Nero electric cars and is planning to tie up with other car companies.
German mobility startup Vay said on Tuesday it has raised $95 million from investors such as Kinnevik, Coatue and Eurazeo, as it plans to launch its first car-rental service in Hamburg next year.
A customer can use a mobile app to book an electric car which will be delivered to the pickup location by the driver driving the vehicle remotely. The customer could drive it like a normal car and the remote operator proceeds to drive a different car.
While many companies are testing driverless cars using expensive sensors, they also use a variety of cameras and other features that make it cheaper to assist a person to drive a car remotely.
They are in the final testing and validation stage before they hit the roads on a commercial basis.
Co-founder and CEO Thomas von der Ohe said in an interview that the service would be cheaper for customers than ride-hailing services and that it would be a move for Wai to gradually introduce fully autonomous features.
Ohe co-founded Vay with Fabrizio Scelsi and Bogdan Djukic in 2018, and its investors include Atomico, La Famiglia, and Creandum.
Vay currently uses KIA Nero electric cars and is planning to tie up with other car companies.
Ohe said the company is backed by the state of Hamburg and is in the final testing and validation phase before hitting the roads on a commercial basis.
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Last week, German car authorities approved a highly automated system for Mercedes-Benz car models to allow drivers to focus on other activities while the car is in heavy traffic or on congested highways.
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