Via raised $ 130 million at a value of $ 3.3 billion

by time news

Via, in the field of smart public transportation (“TransitTech”) announced that it has completed a G round of fundraising in which it raised $ 130 million. Following the acquisition, the company is valued at approximately $ 3.3 billion. The current round of funding was led by Janus Henderson with the participation of Blackrock Innovation and Growth Fund, ION Crossover Partners, Koch Disruptive Technologies and previous investors – Exor.

The company has announced that it plans to use the money to accelerate expansion into new markets, recruit staff, and increase investment in product innovations.

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Via was founded in 2012 by Oren Shoval and Daniel Ramot. The development center in Israel employs about 400 employees out of more than 1,000 of the company’s employees worldwide. The company develops smart public transportation technologies, and provides its technological infrastructure to about 500 customers in 38 countries around the world. In Israel, these customers are known as Babel-Dan, the Egged file and the “station” of the Ministry of Transportation.

Demand for technologies that turn outdated transportation systems into advanced digital networks is growing rapidly worldwide, leading to Via’s growth. The company’s annual revenues in the TransitTech category have crossed the 100 million mark, it reports.

According to a recent study by BCG Boston Consulting Group, the global TransitTech category is expected to grow to $ 1.35 trillion by 2025, the company said. If so, this study highlights the role of the transition to public transport in economic development, equality and sustainability. In the United States, the infrastructure plan presented by President Biden will result in an investment of about $ 91 billion a year in public transportation over the next five years. This is in addition to about $ 70 billion in funding federal aid for public transportation during the Corona crisis that has already been invested to date. Many of the resources available under these programs are designed for innovative mobility solutions that improve the efficiency of public transportation networks, increase accessibility for disadvantaged communities and work to reduce carbon emissions and congestion.

“This is the most exciting period in the field of transportation in decades,” Said Daniel Ramot and Oren Shoval, The founders of the company. “Cities around the world recognize the role that technology can play in improving the efficiency and quality of their transportation networks. Via’s technology provides a solution that helps cities and transportation authorities plan, operate and optimize their transportation.”

“When we look at the public transportation market today, we see an opportunity,” Tells Danny Fish, portfolio manager at Janus Henderson. “We have seen time and time again how traditional industries are undergoing a revolution by implementing technology: FinTech, HealthTech, EdTech and others have made significant improvements in performance and efficiency in their field. The TransitTech category is next in line.”

“Via’s technology platform has been a big change for our community,” Said Caroline Rodriguez, CEO of High Valley Transit in Utah, USA. “Building a unified platform for our regular bus lines, flexible lines, and pre-transit (transportation adapted for people with disabilities), allows us to provide a much better travel experience for our passengers while streamlining our operating system. The flexibility that this technology allows, helps us expand “Accessibility to employment centers, education, health services and other essential services for our community, and reduce reliance on private vehicles.”

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