Via is valued at US$3.5 billion, the transportation company said on Monday, after it raised fresh capital in a funding round led by 83North.
The company, which was founded in 2012 with a few vans in New York City, raised US$110 million in the latest round that also drew participation from Exor N.V., Pitango, Janus Henderson, CF Private Equity, Planven Entrepreneur Ventures, Riverpark Ventures, and ION Crossover Partners. Via develops public mobility systems by building a network of buses, shuttles, wheelchair-accessible vehicles and autonomous and electric vehicles in over 35 countries.
It plans to use the capital to expand its products, improve its end-to-end digital infrastructure for public mobility and expand into new markets and verticals. Via had confidentially filed for an US initial public offering in December 2021, a month after it raised US$130 million and bagged a valuation of US$3.3 billion.The New York-based company's move to raise funds also underscores the strength of private capital markets at a time when rampant inflation, aggressive interest rate hikes and the Ukraine war have ravaged public equity markets.