newmo raises approximately 6.3 billion yen in additional series A round. Established new companies “newmo Tokai” in Nagoya and “newmo Okinawa” in Okinawa

newmo raises approximately 6.3 billion yen in additional Series A round. Established new companies “newmo Tokai” in Nagoya and “newmo Okinawa” in Okinawa ​
newmo Co., Ltd. Press release: October 31, 2024 newmo raises approximately 6.3 billion yen in additional series A round. Established new companies “newmo Tokai” in Nagoya and “newmo Okinawa” in Okinawa
https://prcdn.freetls.fastly.net/release_image/137033/22/137033-22-13b67925488a5e0759c374bca5bece78-2400×1260.png

newmo Co., Ltd. (Minato-ku, Tokyo, Representative Director Naoki Aoyagi, hereinafter referred to as newmo) has raised approximately 6.3 billion yen through a third-party allotment of capital to multiple investors, including existing investors, in an additional Series A round. We would like to inform you that we will be raising funds (*). As a result, the cumulative amount raised in the Series A round is approximately 16.7 billion yen, and the cumulative amount raised since its founding is approximately 18.7 billion yen. *Contract conclusion completed. Payment is expected to be completed soon. Additionally, we will establish “newmo Tokai Co., Ltd.” in Nagoya and “newmo Okinawa Co., Ltd.” in Okinawa as bases for new business development. newmo is a startup established in January 2024 with the aim of realizing “sustainable regional transportation from the user’s perspective.” In March, we acquired management rights to Kishiko Co., Ltd., which operates a taxi business in Osaka, and in July, we acquired management rights to Miraito Co., Ltd. The newmo group owns over 600 taxi vehicles and has a total number of employees. Over 1,000 people. Additionally, in July, we began operating a Japanese version of ride-sharing in Osaka, and in August we began a service that leases vehicles for ride-sharing drivers. Furthermore, in September, we established a new company, “newmo Karuizawa Miyota Co., Ltd.” as our second base after Osaka. At Miraitosha, we are working to strengthen business management and promote DX, and are making progress in improving operational efficiency by visualizing management indicators through the introduction of groupware at all sales offices,
introducing automatic roll call, and partially automating wireless dispatch requests. Masu. In addition, in driver recruitment, which is the key to improving profitability, by introducing digital tools and improving efficiency, the number of applications increased 1.4 times compared to the previous year, and the offer rate doubled from July to September. We have started to see results within three months of joining the newmo group. In the future, we plan to make active capital investments, including switching to UD vehicles and increasing the number of vehicles. ■About Series A additional round funding This time, we are pleased to announce that newmo’s mission resonated with us, that PMI after M&A is progressing smoothly and the taxi business is expanding, and that growth potential is expected due to the synergistic effects of the taxi, ride sharing, and FinTech businesses. In addition to existing investors, we have had new investors participate, including VCs from financial institutions with deep roots in the region. In the future, we will work together with investors to accelerate area expansion nationwide, alliances with taxi operators, M&A, product development, recruitment, etc.
https://prcdn.freetls.fastly.net/release_image/137033/22/137033-22-e285225e3cde41e0e79b1d8dd172ae23-2400×1260.png Series A round investor ANRI / Axiom Asia Private Capital / B Dash Ventures / Bonds Investment Group / Coral Capital / DCM Ventures / DIMENSION / Eight Roads Ventures Japan / Globis Capital Partners / GMO VenturePartners / Headline Asia / HIRAC FUND / MPower Partners Fund / NOBUNAGA Capital Village / SBI Investment / SMBC Venture Capital / Spiral Capital / W fund / X&KSK / Global Brain / Keio Innovation Initiative (KII) / Shizuoka Capital / JAFCO Group / Nanto Capital Partners / Japan Industrial Advisors / Mizuho Capital / Mitsubishi UFJ Innovation Partners *Honorific titles omitted, alphabetical order, alphabetical order ■New company established in Nagoya and Okinawa In order to expand its business in major regions across the country, newmo has utilized the funds raised this time to establish newmo Tokai Co., Ltd. in Nagoya and newmo Okinawa Co., Ltd. in Okinawa. newmo plans to start offering a taxi dispatch app in some areas of Osaka by the end of the year. In addition to Osaka and Karuizawa Miyota, where we have already established bases, we will also promote the
development of taxi dispatch apps and increase the number of affiliated vehicles in Nagoya and Okinawa. At the same time, in order to understand the characteristics of the taxi business in each region, we will proceed with the expansion of the taxi business and alliances with other taxi operators. Nagoya City is an ordinance-designated city with the third largest population after Osaka City, and Aichi Prefecture boasts the fourth largest taxi market in Japan (*). In addition to the presence of many historical companies that support Japanese industry, Aichi Prefecture has launched the “Aichi-Startup Strategy” and opened Japan’s largest open innovation facility “STATION Ai” in Nagoya City in October. Expectations are also rising for the creation of start-up companies. newmo will establish a base within “STATION Ai” with an eye on future expansion in the Tokai region. *From “Hire Taxi Yearbook 2024” published by Tokyo Kotsu Shimbun Company Okinawa is extremely popular as a tourist destination, with the number of tourists exceeding 8.53 million in 2023, the highest number ever for domestic tourists. On the other hand, public transportation is scarce, and the number of taxi drivers has decreased by half (*) from 10,041 to 5,246 in the past 12 years, making it less convenient for both residents and tourists. Additionally, in light of the fact that regulations on the entry of taxis in the main island of Okinawa have been lifted since October of this year, making it possible for new entry and increase in number of vehicles, newmo will provide a new means of transportation in the Okinawa area and improve the convenience of the area. I aim to do that. *Announced in September 2024: Research report by Ryugin Research Institute and Okinawa Times, “Current status of the shortage of bus and taxi drivers in Okinawa Prefecture and consideration for solving the problem” The new companies in the Nagoya and Okinawa areas will utilize digital technology to provide safe, secure, and comfortable services that are close to the region and aim to solve mobility issues in each region. ■New company overview Company name newmo Tokai Co., Ltd. newmo Okinawa Co., Ltd. Establishment date October 2024 October 2024 Representative Tetsutaro Ono Ryusuke Matsumoto Location 1-2-32 Tsurumai, Showa-ku, Nagoya, Aichi Prefecture (within STATION Ai) Times Building 2F, 2-2-2 Kumoji, Naha City, Okinawa Prefecture Website https://newmo.me/tokai https://newmo.me/okinawa *Both are wholly owned subsidiaries of newmo newmo will promote partnerships with taxi operators in Nagoya (Tokai) and Okinawa. If you are a taxi operator interested in implementing the ride-hailing app currently being developed by newmo, please contact us below. https://forms.gle/RaCrzWCi6pWsVCp37 ■Establishment of a new “assignment/immigration support system” to support employees in charge of establishing bases At newmo, we will strengthen the recruitment of employees who will be responsible for launching new bases nationwide (assigned or relocating) and local employees who will be responsible for operating bases in the Nagoya and Okinawa areas. As an opening member, we are looking for people who can take responsibility and drive the project forward. At the same time, we will establish a new “Assignment/Relocation Support System” to provide housing and moving support when employees are on a long-term assignment or relocate to a new location, with the aim of creating a more comfortable work environment and accelerating recruitment. ・Launcher (launching a new base): https://hrmos.co/pages/newmo/jobs/00600001 ・Nagoya local employee: https://hrmos.co/pages/newmo/jobs?category=2057359828156518401 ・Okinawa local employee:
https://hrmos.co/pages/newmo/jobs?category=2057359828160712704 We are actively recruiting for other positions as well. Please see the recruitment site for details. newmo recruitment site:
https://careers.newmo.me/ More Corporate name: newmo Co., Ltd. Representative: Naoki Aoyagi, Representative Director and CEO Established: January 4, 2024 Address: 13th floor, Toranomon 37 Mori Building, 3-5-1 Toranomon, Minato-ku, Tokyo Website: https://newmo.me/