German Startup Vay Secures €34 Million from EIB to Expand Remote-Driving Services Across Europe 🚗✨

Berlin-based remote-driving startup Vay has announced it has secured €34 million (approximately $37 million) in funding from the European Investment Bank (EIB) to roll out its innovative vehicle technology across Europe and expand its development team. Earlier this year, Vay launched its first commercial service in Las Vegas, where "teledrivers" remotely operate electric short-term rental cars. This unique service allows customers to rent vehicles delivered by remote drivers who manage operations from a specialized teledrive station, equipped with controls that replicate the vehicle's surroundings using camera sensors. Notably, Vay's service costs consumers half as much as traditional ride-sharing options like Uber, and the company is expanding its Las Vegas fleet from 20 to 100 vehicles. While car-sharing is Vay's core business, the startup is also exploring remote-driving technology for trucks and has partnered with Stellantis’ Peugeot unit for delivery vans. Von der Ohe emphasized the potential of remote-driving technology, asserting it can revolutionize transportation without the need for full autonomy. Photo Credit: Vay.io