Venture Capital: Volvo’s Venture Arm Invests In Optibus, Which Optimizes Public Transportation

The objective is to build sustainable bus fleets and more efficient transportation operations.

Volvo Group Venture Capital AB, the corporate venture arm of the Volvo Group (STO: VOLV-B), has invested an undisclosed amount in Optibus Ltd, a software platform for making transportation more efficient and sustainable. The investment is expected to accelerate the digitalization and electrification of the global public transportation sector, given that the Optibus platform is used in 1,000 cities in 26 countries globally. (CISION PR Newswire)

“Optibus offers a scalable SaaS solution and has doubled its revenue year over year. We believe the Volvo Group can add considerable strategic value to the continued development of the business,” said Christina Brinck, Investment Director, Volvo Group Venture Capital, in a statement.

“Between Volvo Group, as a global OEM with decades of transport industry expertise, and Optibus, as an agile, quickly scaling SaaS company, this relationship spurs the synergy needed to advance digitalization and sustainable fleets,” said Amos Haggiag, CEO and co-founder of Optibus.

Optibus – Volvo

The partnership will address the transformation in bus transportation due to digitalization, electrification, and changes in business models. Advanced optimizing software would enable greener, more efficient public transportation operations through better software infrastructure.

In May, Optibus became the first unicorn in public transportation when it raised $100 million in Series D funding, with investments from new and existing investors Insight Partners, Bessemer Venture Partners, Verizon Ventures, Pitango First & Pitango Growth, Tencent, SOMV Momentum, BlueRed Partners and others.

The round valued the startup at $1.3 billion.

 Related Story: Optibus Optimizes Transit Planning Using AI

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