Via raises Series E financing to expand public mobility
Via, a company aiming to provide digital infrastructure to power public mobility, announced that it has raised a Series E financing led by EXOR. The financing values the company at $2.25 billion and will enable Via to advance its vision of efficient, accessible, and equitable public mobility.
The company’s technology is designed for use with public transportation, helping cities move beyond a system of rigid routes and schedules to a fully dynamic network. Its 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, says the company. Available in more than 70 cities in 20 countries, the platform has provided more than 70 million rides around the world.
The company says that it is actively supporting cities during this critical time by helping partners provide emergency transit of goods as well as essential personnel. Via’s emergency services and transit network optimization expertise are being utilized across the world in locations as diverse as Berlin, Ohio, and Malta, to support communities impacted by COVID-19.
Leading the Series E financing, 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.
“We are honored to partner with John, Noam, and the EXOR team to help cities provide accessible, affordable, and environmentally-friendly transit to their residents,” said 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 optimizing transit networks, transporting essential workers, and delivering goods and services to individuals in need.”
For more information, visit ridewithvia.com.