Via raises Series E financing to advance mobility vision
Posted: 31 March 2020 | Sam Mehmet (Intelligent Transport)
The financing values the company at $2.25 billion and will reportedly enable Via to advance its vision of efficient, accessible and equitable public mobility.
Credit: Andy Ambrosius (Via)
Via, the company that provides digital infrastructure to power public mobility in cities around the world, has announced that it has raised a Series E financing led by EXOR, a European holding company.
EXOR will invest $200 million in the company, and Noam Ohana — Head of EXOR Seeds, the early stage investment arm of EXOR — will join Via’s Board of Directors. 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.
Via Co-founders Oren Shoval and Daniel Ramot, said: “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. 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.”
John Elkann, Chairman and Chief Executive Officer of EXOR, added: “At this uniquely challenging moment it is more important than ever to work determinedly for the innovative and sustainable future beyond these difficult days. Partnering with Daniel and Oren and their outstanding team to support the development of their powerful problem-solving technology confirms our strong and positive engagement with them and underlines EXOR’s continuing commitment to building great companies for a better tomorrow.”
Via’s technology is said to power the next generation of public transportation, helping cities move beyond a system of rigid routes and schedules to a fully dynamic network. Via’s algorithm aims to efficiently combine, in real-time, multiple passengers or packages headed in the same direction, reducing urban congestion and emissions while providing a high quality and lower cost mobility service.