Transport tech startup Via raises $130 million in funding round

264
1
Transport tech startup Via raises $130 million in funding round

Nov 30 Reuters - Via has raised $130 million in fresh capital as part of a late-stage financing round led by asset manager Janus Henderson, valuing the transit-tech startup at $3.3 billion.

The Series G funding also includes investments from BlackRock, ION Crossover Partners, Koch Disruptive Technologies and existing investor Exor.

The New York-based company develops public mobility systems by building a network of buses, shuttles, wheelchair-accessible vehicles and autonomous and electric vehicles. It plans to expand into new markets, hire employees, and improve its products with the help of the funding.

We've seen time and time again how traditional industries are transformed by the introduction of technology, such as FinTech, HealthTech, and EdTech. Denny Fish, portfolio manager at Janus, said that Via is uniquely positioned to lead the category, having created this category, and having created this category, TransitTech is next.

Via raised $200 million in a previous funding round in March last year, which helped it double its revenue as demand for its software grew globally, according to a statement. It has partnered with 500 companies and has expanded its presence to 35 countries.