Familiar names backing Yoshi Mobility in $26 million Series C funding
Tech-enabled mobile car care company Yoshi Mobility has closed on a $26 million Series C round that includes some heavy hitters in business.
Among the strategic investors in the latest funding round are familiar automotive names General Motors Ventures and Bridgestone Americas, and international investors Universal Motors Agencies and Shikra Limited.
Yoshi Mobility, launched out of Y Combinator in 2016, is also backed by ExxonMobil, DN Automotive, NBA All-Star Kevin Durant and Hall of Fame NFL quarterback Joe Montana. The company said it has raised more than $60 million to date.
Yoshi Mobility said the Series C funding enables it to expand three new business lines: preventative maintenance, virtual vehicle inspections and electric vehicle charging.
Last month, the company completed its first acquisition, adding Mobile Auto Concepts Inc., a mobile automotive services company that specializes in preventative maintenance, tire care and replacement, multipoint inspections and eco-friendly washes.
CEO and co-founder Bryan Frist said Yoshi Mobility’s partnerships with Uber and Turo have boosted its virtual inspection operations, offering a “clear product-market fit, synergies with our other product offerings and great customer reviews.”
“Our virtual inspection business is on an exciting growth trajectory and has enormous potential,” he 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 is also commercializing its mobile EV charging platform to address current and future challenges related to charging EV fleets. The company said the service “uniquely positions” it to cater to the evolving needs of EV owners and enterprise customers, offering on-the-go charging, maintenance and support as well as providing efficient service and labor savings for fleet operators.
“The past few years, we’ve expanded our services well beyond just gas delivery to offer car owners more comprehensive car care,” Frist said. “No matter how the vehicles are powered — by gas, batteries or even hydrogen — we’re well positioned to help usher in the future of mobility.”