Mobility startup Via, which operates a rideshare service with the City of Arlington, has raised a $200 million Series E funding round that values the company at $2.25 billion.
The funding will allow New York-based Via to advance its vision of efficient, accessible, and equitable public mobility, the startup said in a statement. The funding round was led by Amsterdam, the Netherlands-based EXOR.
Via, which has been expanding in Texas, said its algorithm efficiently combines, in real time, multiple passengers or packages headed in the same direction. This significantly reduces urban congestion and emissions, while providing a high quality and lower cost mobility service.
The service is available in more than 70 cities in 20 countries, and growing rapidly. Via calls itself the world’s leading provider of technology-enabled public mobility solutions.
Arlington recently announced it received around $1.7 million from the Federal Transit Administration to integrate autonomous vehicles into its existing on-demand system that it operates with Via. According to the FTA, the service will include a wheelchair accessible vehicle, and eventually could allow UT Arlington students to ride for free.
To date, Via’s platform has provided more than 70 million rides around the world.
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 funding round, as did existing investors Pitango, 83North, Hearst Ventures, Ervington Investments, Planven Ventures, Broadscale Group, and RiverPark Ventures.
Get on the list.
Dallas Innovates, every day.
Sign up to keep your eye on what’s new and next in Dallas-Fort Worth, every day.