Australia markets open in 5 hours 47 minutes

    -23.40 (-0.32%)

    -0.0022 (-0.32%)
  • ASX 200

    -14.90 (-0.21%)
  • OIL

    +3.26 (+3.70%)
  • GOLD

    -4.80 (-0.27%)

    -438.25 (-1.28%)
  • CMC Crypto 200

    -1.59 (-0.29%)

Transit-tech startup Via valued at $3.3 bln after latest funding round

·1-min read

Nov 30 (Reuters) - Via said on Tuesday it has raised $130 million in fresh capital as part of a late-stage financing round led by asset manager Janus Henderson, valuing the transit-tech startup at $3.3 billion.

The Series G funding also includes investments from accounts managed by BlackRock, ION Crossover Partners, Koch Disruptive Technologies and existing investor Exor.

The New York-based company develops public mobility systems by building a network of buses, shuttles, wheelchair-accessible vehicles and autonomous and electric vehicles. It plans to use the funding to fuel expansion into new markets, hire employees and improve its products.

"We've seen time and time again how traditional industries are transformed by the introduction of technology: FinTech, HealthTech, EdTech... TransitTech is next, and having created this category, Via is uniquely positioned to lead it," Denny Fish, portfolio manager at Janus, said.

Founded in 2012 with a few vans in New York City, Via raised $200 million in a previous funding round in March last year that helped it double its revenue as demand for its software grew globally, according to a statement. It has partnered with 500 companies and has expanded its presence to 35 countries. (Reporting by Mehnaz Yasmin in Bengaluru; Editing by Shailesh Kuber)

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting