New funding round for Via values it at $2.25billion.
Via, public mobility specialist and parent company of Europe’s ViaVan, has raised a Series E financing, led by EXOR. The $200million raised by EXOR values the company at $2.25billion.
Via says that the funding round comes at a time when it is actively supporting cities and partners during the COVID-19 crisis to provide emergency transit of goods and essential personnel. Via claims that its technology is designed to power the next generation of public transportation in order to help cities move beyond a system of rigid routes and schedules to a more dynamic network.
Via’s algorithm combines, in real-time, multiple passengers or packages headed in the same direction, reducing urban congestion and emissions while providing a lower cost mobility service. Available in more than 70 cities in 20 countries, and growing rapidly, to date, the Via platform has provided more than 70 million rides around the world. Via is working with more than 100 partners across municipalities, public transit agencies, transportation operators, major corporations, schools, and universities to optimise their transport systems.
Leading Via’s Series E financing, EXOR will invest $200million in the company, and Noam Ohana, head of EXOR Seeds, the early stage investment arm of EXOR, will join Via’s board. New investors Shell, Macquarie Capital, and Mori Building also participated in the round, as did existing investors Pitango, 83North, Hearst Ventures, Ervington Investments, Planven Ventures, Broadscale Group, and RiverPark Ventures.
“We are honoured to partner with John, Noam, and the EXOR team to help cities provide accessible, affordable, and environmentally-friendly transit to their residents,” says Via co-founders Oren Shoval and Daniel Ramot. “Especially in these difficult times, we greatly value EXOR’s commitment to Via’s vision of a dynamic, data-driven public mobility system that provides more cost-effective and equitable transport to communities everywhere.
“During this emergency period, we are proud to apply our technology and operational expertise to assist cities with optimising transit networks, transporting essential workers, and delivering goods and services to individuals in need.”