Global Brain adds newmo investment, SMBC-GB joins round

Global Brain has now disclosed a third investment in newmo through its GB9 fund, following earlier announcements in May and October 2024, with SMBC-GB Growth Fund joining this round. The fund manager said it values the operating team's experience in the taxi industry, the company's M&A-driven model that built a large taxi group in a short period, and its approach to autonomous taxis built on that operating base.

newmo was founded in January 2024 and has since brought nine taxi operators into its group. Its operations span Osaka, Kanagawa, Tokyo, Okinawa, Hokkaido and Aichi, with roughly 1,900 taxi vehicles and more than 2,800 employees. The company's stated ambition is to grow into a taxi operator with a fleet of 10,000 vehicles.

On the autonomous side, newmo says it has vertically integrated its self-developed autonomous driving AI model with its taxi operating platform. It is running trials in Osaka and Sakai first, with plans to expand to other regions and targets commercialization in 2028. Global Brain said it will use its network to support nationwide expansion and earlier commercialization.