Via raises $200 million to optimize ride-sharing routes with AI

Transportation startup Via today announced that it’s raised $200 million in series E financing, bringing its total raised to over $500 million at a $2.25 billion valuation. According to cofounders Oren Shoval and Daniel Ramot, part of the funding will enable Via to expand its efforts around the novel coroanvirus outbreak, which include emergency services and transit network optimization in locations including Berlin, Ohio, and Malt.

Via’s ride-sharing service taps AI to combine, in real-time, multiple passengers or packages headed in the same direction, ostensibly reducing urban congestion and emissions while providing a lower cost mobility service. It’s available in more than 70 cities in 20 countries, and to date, Via says it has provided over 70 million rides around the world (up from 50 million as of July 2019).

Via first launched in New York City in 2013, but it’s now deployed globally, including in Europe as ViaVan. As of today, it works with more than 100 partners across municipalities, public transit agencies, transportation operators, major corporations, schools, and universities to optimize their transport systems, including the city of West Sacramento, the Los Angeles Metro, Transport for London (TfL), and Sydney’s Transport for New South Wales (TfNSW).

Last year, via announced the launch of a driverless shuttle program in New South Wales, Australia, in partnership with the BusBot project, local bus operator Busways, local government agency Transport for New South Wales, and startup EasyMile. More recently, it launched an on-demand transportation pilot in Sacramento, California, that let customers hail rides from apps and the city’s public transportation department.

EXOR led this latest funding round, with participation from 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. Noam Ohana, head of EXOR Seeds, the early stage investment arm of EXOR, will join Via’s board of directors as a part of it.