Grab Invests $60M in Berlin's Remote Driving Startup Vay
Vay's service allows users to order a car operated remotely, which is then delivered to the customer, who takes over to drive the vehicle where they want to go. © Vay
Grab Holdings, Southeast Asia's leading ride-hailing platform, is making a significant bet on Berlin-based startup Vay with an initial investment of $60 million, according to Bloomberg. The funding could potentially climb to $410 million within a year if Vay achieves specific performance targets.
Founded in Berlin in 2018, Vay has developed a unique approach to urban mobility that sits between traditional taxis and fully autonomous vehicles. Here's how it works: customers use the Vay app to request an electric car. A remote operator then drives the vehicle to the customer's location. Once the car arrives, the customer takes control and drives it like a normal vehicle to their destination. When they arrive, they simply step out, and a remote operator takes over again, eliminating the hassle of finding parking.
Vay made history as the first company authorized to operate on public European roads without a safety driver, demonstrating that its technology meets the continent's rigorous safety standards. However, with regulatory pathways in Germany still unclear, the company launched its commercial service in Las Vegas in January 2024. Since then, users have completed over 17,000 trips across the city center, including the famous Strip.
The startup maintains offices in Berlin and Las Vegas, with a team of over 150 employees combining Silicon Valley software expertise with European automotive engineering. Grab's investment adds to Vay's impressive Series B funding round of $95 million from investors including Kinnevik, Coatue, and Atomico.
For Grab, this deal represents another strategic move in preparing for a driverless future, following recent investments in May Mobility and WeRide. The funding, subject to regulatory approval, is expected to close in the fourth quarter and will help Vay scale its US operations.
Thinking about launching a business, setting up premises, or creating partnerships in Berlin?
We invite you to contact us.
Our team is ready to help you with our free consultation services.