Diversified holding company Exor agreed yesterday to pay $200m for an 8.87% stake in Via Transportation, the US-based mobility services and software provider backed by carmaker Daimler and media group Hearst.
The investment came as part of a larger series E round of undisclosed size also featuring oil and gas supplier Shell, property manager Mori Building and Hearst Ventures, Hearst’s corporate venturing arm.
New investor Macquarie Capital and existing backers Pitango, 83North, Ervington Investments, Planven Ventures, Broadscale Group and RiverPark Ventures filled out the round.
Via provides a range of on-demand or pre-scheduled urban mobility services covering ordinary urban and rural transport to specialised services across more than 20 countries. Its algorithm optimises transport for maximum efficiency and can be incorporated into existing transport management systems.
The company works with partners such as public transit agencies, bus and rail services, private businesses, universities and school districts, offering services such as school busing or non-emergency medical transportation.
Exor plans to use its expertise in company building to help Via expand its business-to-business offering. Noam Ohana, managing director of Exor subsidiary Exor Seeds, will take a board seat as part of its investment.
Oren Shoval and Daniel Ramot, Via’s co-founders, said, “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 optimising transit networks, transporting essential workers, and delivering goods and services to individuals in need.”
Via raised $27m in a 2015 series B round featuring Hearst unit Hearst Ventures, Pitango Venture Capital, Ervington Investments and 83North, adding to $10.1m supplied by 83North, RiverPark Ventures and Expansion Venture Capital the previous year.
Pitango Growth led the company’s $70m series C round the following year, investing alongside Hearst Ventures, Poalim Capital Markets, Ervington Investments, 83North and C4 Ventures as part of a round it said would shortly be followed by another $30m.
Daimler subsequently led a series D round for Via in 2017 that was reported by TechCrunch to be sized at $250m.
