The ride hailing service is set to raise up to $211m from Dentsu, NTT Docomo and Tokyo Century, potentially taking its overall funding to $369m.
Marketing firm Dentsu, mobile network operator NTT Docomo and financial services firm Tokyo Century agreed yesterday to invest up to ¥22.6bn ($211m) in Japan-based on-demand ride service Mobility Technologies (MoT).
The funding forms part of a strategic partnership deal that will involve Dentsu providing $9.3m and Tokyo Century $14.7m. NTT Docomo is set to inject up to $187m, half of which is dependent on MoT exercising a capital call option, and the full amount would take MoT’s total funding to…
