Transportation tech startup Via raises $110 million in funding led by 83North at $3.5 billion valuation

Transportation tech startup Via raises $110 million in funding led by 83North at $3.5 billion valuation

Time Stamp: February 13, 2023 8:03 PM
Source Node: 1956591

Via has raised $110 million in fresh funding led by 83North, with participation from new and existing investors including Exor N.V., Pitango, Janus Henderson, CF Private Equity, Planven Entrepreneur Ventures, Riverpark Ventures, and ION Crossover Partners.

The round brings Via’s valuation to $3.5 billion, making the TransitTech startup a member of the highly coveted unicorn startup club. Via will also use the funding proceeds to expand its product suite and improve its end-to-end digital infrastructure for public mobility, accelerate expansion into new markets and verticals, and continue to invest in product innovation.

The funding comes a little over a year after the company confidentially filed for a U.S. initial public offering in December 2021, a month after it raised $130 million and bagged a valuation of $3.3 billion.

Founded in 2012 by CEO and co-founder Daniel Ramot, Via develops public mobility systems by building a network of buses, shuttles, wheelchair-accessible vehicles, and autonomous and electric vehicles in over 35 countries. Via’s TransitTech products are used by more than 600 communities around the globe to expand access to efficient, equitable, and sustainable public transportation.

The company’s technology enables customers to plan transit networks that are responsive and resilient to rapidly changing needs, to operate smart multi-modal transportation systems, and to use data to optimize performance — all in one software platform.

“We have known Daniel, Oren, and the Via team for many years now. Their ability to maintain rapid growth year over year, and to continue to innovate and deliver for their customers is unique,” said Arnon Dinur, Partner at 83North. “We believe in the company and the category, and are delighted to support Via in the future opportunities this funding will bring.”

“Via is a rare combination of a company that has a profound impact on the communities it serves while also generating attractive unit economics at scale,” said John Elkann, CEO of Exor N.V. “Daniel and his team are building a great company and as a major shareholder we are committed to supporting the company in this next stage of growth.”

“This financing is an exciting milestone for Via and a reflection of the power that technology has to transform transit in communities around the world,” said Via co-founder and CEO Daniel Ramot. “Access to transit improves health, education, and economic outcomes, and all of us at Via are inspired every day to see the positive impact our customers have achieved by adding technology to their transit networks. The growth of the TransitTech market in recent years has been truly remarkable, and we are proud of the contributions we have made to create and expand the category”

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