BRICKS FUND TOKYO backs newmo, taxi and self-driving venture

Newmo was founded in January 2024 and has grown quickly by bringing nine taxi operators into its group, expanding to six regions: Osaka, Kanagawa, Tokyo, Okinawa, Hokkaido, and Aichi. Its fleet of about 1,900 vehicles and workforce of over 2,800 people put it among the top 10 in Japan by vehicle count, according to the announcement. Beyond conventional taxi operations, newmo is developing its own AI model for self-driving taxis suited to Japan's traffic environment, with a goal of commercializing the service in limited areas by 2028.

The investment comes as Japan's regional transport faces pressure from a shrinking population and aging society. The announcement frames taxi services as essential transport infrastructure and argues that strengthening existing operations while applying new technology is key to sustainable regional mobility. Mitsubishi Estate's fund said it will use the investment to build a relationship with newmo as a partner in urban development for the self-driving era, and to look for co-creation opportunities with newmo's shareholders and related companies, aiming to create future business opportunities.