Volvo invests in Israeli company that announced a $100m series D funding round in May to advance public transportation platform

The latest funding round brings Optibus’ total capital raised to $260 million and its valuation to $1.3 billion.

Other projects for the Israeli mass transit planner Optibus include the acquisition o US transportation platform Trillium.

With advanced algorithms and machine learning, Optibus says it helps leading transit providers better run mass transportation systems.

This year’s cohort includes companies in Industry 4.0, alternative meat, healthcare, environmental tech, cybersecurity and food security.

The round was led by Insight Venture Partners, with participation from Chinese giant Alibaba.

Nine Israeli companies were selected for the second annual Upstart 100, CNBC's list of promising young startups for 2018.