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September 6, 2017 1:26 pm

Israeli Ride-Sharing Company Raises $250 Million, Eyes Europe

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The homepage of Via’s website. Photo: Screenshot. – The Israeli ride-sharing company Via announced on Monday it had raised a “strategic investment” of $250 million from investors. The company said it plans to expand into Europe as well as to work more closely on other business opportunities.

“We are delighted that Daimler is joining us as investors and strategic partners,” Via cofounder and CEO Daniel Ramot said. “The combination of our unique technology with their design and human engineering tradition is ideal for realizing our vision of providing efficient, affordable, ecological and convenient ride-sharing services.”

Via has developed a shuttle-based carpooling service in the US for a flat-rate starting at $5, as well as through platform partnerships with other transportation providers. Offering ride-sharing companies like Uber and Lyft a run for their money, Via now looks to expand outside of the US, according to a report.

The current fundraising round is led by German automaker Daimler, which is investing $50 million in a joint venture with Via to develop shuttle services throughout Europe. The rest of the funds will come from private investors and venture capital funds.

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