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TransitTech start-up, Via, has announced $130 million in new funding, giving it a valuation of $3.3 billion. The round was led by Janus Henderson with participation from funds and accounts managed by BlackRock, ION Crossover Partners, Koch Disruptive Technologies, and existing investor Exor.
Via plans to use the funding to accelerate expansion into new markets, continue to hire new talent, and grow its investment in product innovation.
Via has been experiencing strong growth, with TransitTech revenue more than doubling year-on-year to exceed an annual run rate of $100 million.
The company works to optimise networks of buses, shuttles, wheelchair accessible vehicles, school buses, autonomous vehicles, and electric vehicles around the globe.
Daniel Ramot and Oren Shoval, co-founders of Via, say: “Cities around the world are recognizing the critical role that technology can play in improving the efficiency and quality of their transit networks. Our software provides an end-to-end solution that helps cities and public agencies plan, operate, and optimize every facet of their transportation system.”
Denny Fish, portfolio manager at Janus, adds: “We’ve seen time and time again how traditional industries are transformed by the introduction of technology: FinTech, HealthTech, EdTech, and others have driven extraordinary improvements in performance and efficiency. TransitTech is next, and having created this category, Via is uniquely positioned to lead it. The company’s mission to expand access to efficient, affordable, and sustainable transportation is inspiring.”
Founded in 2012 and headquartered in new York City, Via has with 500 partnerships in more than 35 countries.