Via has raised Series E financing led by EXOR, which values the company at $2.25 billion and will enable Via to advance its vision of efficient, accessible and equitable public mobility.
Via’s technology powers the next generation of public transportation, helping cities move beyond a system of fixed routes and schedules to a dynamic network. Via’s algorithm combines, in real time, multiple passengers or packages headed in the same direction, helping reduce urban congestion and emissions while providing mobility service. To date, the Via platform has provided more than 70 million rides around the world.
Via says it is actively supporting cities during this critical time, helping partners provide emergency transit of goods as well as essential personnel. Via’s emergency services and transit network optimization are being utilized across the world to support communities impacted by COVID-19.
Leading Via’s Series E financing, EXOR will invest $200 million in the company, and Noam Ohana — head of EXOR Seeds, the early stage investment arm of EXOR — will join Via’s Board of Directors. New investors Shell, Macquarie Capital and Mori Building also participated in the round, as did existing investors Pitango, 83North, Hearst Ventures, Ervington Investments, Planven Ventures, Broadscale Group and RiverPark Ventures.
Via Co-founders Oren Shoval and Daniel Ramot said, “We are honored to partner with John, Noam and the EXOR team to help cities provide accessible, affordable and environmentally-friendly transit to their residents. Especially in these difficult times, we greatly value EXOR's commitment to Via's vision of a dynamic, data-driven public mobility system that provides more cost-effective and equitable transport to communities everywhere. During this emergency period, we are proud to apply our technology and operational expertise to assist cities with optimizing transit networks, transporting essential workers, and delivering goods and services to individuals in need.”
Commenting on the investment, John Elkann, chairman and CEO of EXOR added, “At this uniquely challenging moment it is more important than ever to work determinedly for the innovative and sustainable future beyond these difficult days. Partnering with Daniel and Oren and their outstanding team to support the development of their powerful problem-solving technology confirms our strong and positive engagement with them and underlines EXOR’s continuing commitment to building great companies for a better tomorrow.”