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- Vay
Vay Funding, Investors & Competitors
Vay has raised $155M across 2 funding rounds, most recently a $60M strategic investment round in November 2025.
About Vay
Vay is a Berlin-based deep technology company launching remotely controlled driverless vehicle fleets for European cities. The teledriving model combines human oversight with autonomous systems for ride-hailing and car-sharing. Vay prioritizes safety certification and emission reductions in urban mobility.
Founded
2018
HQ
Website
Status
Privately held
Customer focus
B2B & B2G
Revenue model
Usage-based
Vay Funding History
Vay has raised a total of $155M across 2 funding rounds.
Vay's first fundraising round was a $95M Series A in December 2021. The most recent completed round was a $60M strategic investment round in November 2025.
Vay funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Nov 2025 | Strategic investment | Grab (lead) | $60M | Vay Technology is a German startup providing remote-driving technology, deploying shared electric vehicles controlled remotely by operators until pickup and after drop-off, with customers driving the vehicle themselves during use. The company launched its commercial fleet in Las Vegas in 2024 and plans to expand to tens of thousands of vehicles. Grab Holdings announced a strategic investment of $60 million in cash for a minority equity stake in Vay, subject to regulatory approval and expected to close in Q4 2025. This initial funding supports Vay's U.S. expansion, technology development, and scaling operations, with Grab leveraging its expertise in marketing, product, fleet operations, and market entry. The investment includes potential additional $350 million within the first year, contingent on milestones such as consumer revenue thresholds, U.S. cities covered, technology and safety standards, and regulatory approvals for more cities. Follow-on funding could involve new shares and secondary purchases, potentially leading to Grab majority ownership on a fully diluted basis after three years. Prior to this round, Vay had raised $131.8 million from investors including Kinnevik, Coatue, Eurazeo, Atomico, General Catalyst, Creandum, and the European Investment Bank. Grab aims to integrate Vay's remote driving model into its Southeast Asia mobility services, complementing its driver-partner expertise with autonomous and teleoperated solutions. The partnership explores synergies like using Vay's driving data to train AI for autonomous driving. Grab has previously invested in other autonomous players like WeRide and May Mobility. Vay operates amid rising U.S. competition in remote driving and robotaxis, such as Waymo's expansions to Detroit, Las Vegas, and San Diego. |
| Dec 2021 | Series A | Flixfounders; Creandum; Patrick Pichette; Cristina Stenbeck; La Famiglia; Signals Venture Capital; Project A Ventures; Visionaries Club; Kinnevik; Eurazeo; Coatue; Atomico | $95M | Vay is a Berlin-based teledrive mobility company developing teledriven and autonomous vehicle services for urban door-to-door transportation at lower costs than ride-hailing. On December 14, 2021, Vay raised $95 million in a Series B funding round, the largest in Europe for self-driving car technology at the time, backed by new investors Kinnevik, Coatue, and Eurazeo, alongside existing backers Atomico, La Famiglia, and Creandum, plus Project A Ventures, Visionaries Club, Signals Venture Capital, Patrick Pichette, Cristina Stenbeck, and Flixbus founders. The funds were earmarked to launch commercial teledriven services in Hamburg in 2022, triple the team size with a focus on engineering, advance autonomous driving tech, and form automotive partnerships for multi-city expansion. Vay's model starts with remote human operators for teledriving to generate early revenues and prioritize safety before full autonomy, positioning it as a competitive alternative to car ownership in cities due to affordability and environmental benefits. |
Who has invested in Vay?
13 investors have backed Vay across its funding rounds, including Coatue, Eurazeo, Creandum, Atomico, Project A Ventures and Kinnevik.
Lead investors include Grab.
Vay Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 1 | Participant | Dec 2021 | ||
| 1 | Participant | Dec 2021 | ||
| 1 | Lead | Nov 2025 | ||
| 1 | Participant | Dec 2021 | ||
| 1 | Participant | Dec 2021 | ||
| 1 | Participant | Dec 2021 | ||
| 1 | Participant | Dec 2021 | ||
| 1 | Participant | Dec 2021 | ||
| 1 | Participant | Dec 2021 | ||
| 1 | Participant | Dec 2021 | ||
| 1 | Participant | Dec 2021 | ||
This data is available for Pro users. Sign up to see all 13 Vay investors. Start Free Trial | ||||
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Start Free TrialVay Competitors
Vay competitors include listed companies like Aurora Innovation and SUPA Consolidated, and private ones like Argo AI, Didi Woya, Glydways and Autonomous Flight.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $3M | ($786M) | $13B | 1040.1x | ||
| Private | - | - | $7B | - | ||
| Private | - | - | $5B | - | ||
| Private | - | - | $700M | - | ||
| Publicly listed | - | ($233K) | $16M | - | ||
| Private | - | - | $400M | - |
Vay Public Comps
Vay is still privately-owned, but its public comps include Tesla, Uber, General Motors, SAIC Motor, DiDi, Aurora Innovation, Grab, XPENG, AeroVironment and China Aerospace Times.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $95B | $10B | 15.0x | 13.8x | 140.8x | 97.4x | |||
| $52B | $6.2B | 3.0x | 2.8x | 24.9x | 14.6x | |||
| $185B | $15B | 1.0x | 1.0x | 12.1x | 8.5x | |||
| $98B | $7.1B | 0.1x | 0.1x | 1.5x | 2.3x | |||
| $34B | $68M | 0.4x | 0.3x | 177.8x | 24.4x | |||
| $3M | ($786M) | 3957.3x | 1040.1x | (15.1x) | (15.5x) | |||
| $3.4B | $350M | 2.3x | 1.9x | 21.9x | 11.5x | |||
| $11B | $156M | 1.1x | 1.0x | 80.6x | (74.9x) | |||
This data is available for Pro users. Sign up to see all Vay competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Vay
| When was Vay founded? | Vay was founded in 2018. |
| Where is Vay headquartered? | Vay is headquartered in Berlin, Germany. |
| Is Vay publicly listed? | No, Vay is a private, VC-backed company. |
| How much funding has Vay raised? | Vay has raised $155M across 2 funding rounds. |
| What was Vay's last funding round? | Vay's last funding round was a $60M strategic investment round in November 2025, led by Grab. |
| Who are Vay's investors? | Vay's investors include Flixfounders, Creandum, Grab, Patrick Pichette, Cristina Stenbeck, La Famiglia, Signals Venture Capital, Project A Ventures, Visionaries Club, Kinnevik and 3 others. |
| Which companies are comparable to Vay? | Companies comparable to Vay include Aurora Innovation, Argo AI, Didi Woya, Glydways, SUPA Consolidated and Autonomous Flight. |
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