Remote-Driving Startup Vay Secures up to US$410 Million from Grab

Berlin-based startup Vay Technology GmbH  (“Vay”), which enables remote-controlled delivery of rental cars to customers, has secured a major investment from Singaporean tech giant Grab Holdings Limited  (“Grab”): US$60 million  upfront, with up to US$350 million in additional funding tied to performance milestones. Vay’s model pairs remote human “teledrivers” with rental fleets. Cars are delivered to customers via remote driving, after which the user takes the wheel for the trip. Vay says...