Global Brain has decided to make an additional investment in newmo, Inc., a cab and ride-sharing service operator

Global Brain has decided to make an additional investment in newmo, Inc. (newmo), a cab and ride-sharing service operator, through its GB-IX Growth Fund Investment Limited Partnership (GB-IX).

In recent years, the issues of aging workforce and labor shortage for cabs, buses, and other means of regional transportation have become more apparent. In order to realize “sustainable regional transportation from the user’s perspective,” newmo aims to provide new transportation services through simultaneous development of both cab and ride-sharing businesses.

With the funds raised to date, newmo has already acquired management rights to two cab companies in Osaka (in western Japan), expanding the newmo group to encompass more than 600 cab vehicles and 1,000 employees (as of the end of October 2024). Also after the capital participation, the company has been actively strengthening business management and driving digital transformation to improve profitability. Going forward, the company will continue to expand its cab and ride-sharing business on a nationwide scale beyond the Kansai region, aiming to solve regional transportation issues in a variety of ways.

Global Brain has decided to additionally invest in newmo, recognizing its management team’s proactive and diversified business development based on its extensive management experience, including capital participation in a cab company, and anticipating the company’s further efforts in building a better society through the diversification of mobility. Through this investment, Global Brain will actively support newmo to contribute to its business growth.