Yoshi Mobility recently closed its $26 million Series C funding round. The round includes strategic investors General Motors Ventures and Bridgestone Americas, as well as international investors Universal Motors Agencies and Shikra Limited. Launched out of Y Combinator in 2016, the company is also backed by ExxonMobil, DN Automotive, NBA All-Star Kevin Durant, and NFL legend Joe Montana. Yoshi Mobility has raised more than $60 million to date. In addition to scaling its core business, the company said Series C funding enables it to expand three new business lines: preventative maintenance, virtual vehicle inspections and electric vehicle (EV) charging.
The company said it has increased its revenue tenfold since the pandemic, driven by the growth of its fleet business and corporate partnerships with Fortune 100 companies offering service as an employee benefit through return-to-work programs.
Yoshi Mobility recently completed its first acquisition – Mobile Auto Concepts Inc. (MACi), a full-suite, mobile automotive services company that specializes in preventative maintenance, tire care and replacement, multipoint inspections, eco-friendly washes and more. Yoshi Mobility said its virtual inspection business is also growing at an exponential rate through partnerships with companies including Uber and Turo.
“Our virtual inspection business is on an exciting growth trajectory and has enormous potential,” Bryan Frist, CEO & co-founder of Yoshi Mobility, said. “This service accelerates the onboarding process for gig-economy drivers and small business owners, while also reducing their carbon footprint by removing their need to drive to a service center for a simple inspection.”
Yoshi Mobility said it is also commercializing its mobile EV charging platform to address current and future challenges related to charging EV fleets. This service offers on-the-go charging, maintenance and support.
