Israeli-Founded Transport Startup Via Raises $130M at $3.3B Valuation
Summary
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. “This is the most exciting time in transportation in decades,” Daniel Ramot and Shoval, co-founders of Via, in the announcement,“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.” The global TransitTech category is expected to grow to an estimated $1.35 trillion by 2025, according to a recent BCG study, highlighting the critical role that transit plays in economic development, equity, and sustainability. In the United States, the recently passed Bipartisan Infrastructure Deal will see an unprecedented $91 billion annually in new and reauthorized funding guaranteed for public transit over the next five years. Many of the funds made available through these programs are provided for innovative mobility solutions that improve the efficiency of transportation networks, expand access for underserved communities, and tackle reducing carbon emissions and congestion.