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Unicorns

Via Transportation Startup Hits $3.5 billion valuation with $110 Million Raise

VIA

VIA CEO Daniel Ramot and CTO Oren Shoval (company pic)

Via, an Israeli startup that offers new TransitTech, has hit super-unicorn status with a $3.5 billion valuation. The firm did so with a $110 million financing round led by 83North, with participation from new and existing investors. The company ended 2022 with annualized revenue run-rate surpassing $200 million, more than double since the previous financing round.

Founded in 2012 by CEO Daniel Ramot and CTO Oren Shoval, Via boasts that it pioneered the TransitTech category by using new technologies to develop public mobility systems — optimizing networks of buses, shuttles, wheelchair-accessible vehicles, school buses, autonomous vehicles, and electric vehicles around the globe.

“Building the world’s most efficient, equitable, and sustainable transportation network for all riders,” declares Via, “including those with limited mobility, those without smartphones, and unbanked populations — Via says that the company works with its partners to lower the costs of public transit while providing transportation options that rival the convenience of a personal car while reducing the environmental impact. Via provides its technology in 600 communities and more than 35 countries and counting.

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Via’ says 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.”

“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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