Israeli Transit Startup Via Raises $100M

May 5, 2016 | Israeli startup Via, which develops an on-demand transportation solution, has raised $100 million in Series C funding. The company has already closed $70 million in financing with a further $30 million in strategic investment to close in the coming weeks. This is the largest amount raised by an Israeli startup this year. The funding was led by Pitango Growth, along with leading venture capital firms and strategic investors from North America, Europe, and Asia, including Poalim Capital Markets and C4 Ventures. Previous investors Ervington Investments (representing Roman Abramovich), Hearst Ventures, and 83North (formerly Greylock IL) also participated in the round. The latest funds bring Via’s total investment to $137 million. Headquartered in New York City, the company’s development center is in Tel Aviv. Founded by Daniel Ramot and Oren Shoval, Via operates in New York City and Chicago and enables tens of thousands of passengers each day to seamlessly share their ride with others headed the same way. The financing will be used to drive growth in those two cities,expand into new ones, and aid municipalities and transit authorities seeking to improve their public transit services by using Via’s technology.