Volvo Group Venture Capital AB has announced an investment in Optibus Ltd, an Israeli company that develops and provides optimisation software for public transportation planning and management. The investment highlights the companies’ shared commitment to sustainable bus fleets and more efficient transportation operations.
The Optibus solution is in use in 1,000 cities in 26 countries across North and South America, EMEA, and Asia Pacific.
Optibus and Volvo Group will collaborate to create mutual strategic learnings and growth opportunities.
Volvo Group Venture Capita says its investment in Optibus will help accelerate the digitalisation and electrification of the global public transportation sector.
Christina Brinck, Investment Director, Volvo Group Venture Capital., says: “Optibus offers a scalable SaaS solution and has doubled its revenue year over year. We are impressed by the founders, the team culture, and the company’s achievements. We believe the Volvo Group can add considerable strategic value to the continued development of the business.”
Optibus and Volvo Group will collaborate to create mutual strategic learnings and growth opportunities. “The collaboration with Optibus will contribute to our efforts to support customers with more efficient and sustainable transport solutions,” adds Anna Westerberg, President of Volvo Buses.
“We are honored to receive this strategic investment from Volvo Group Venture Capital to enable greener, more efficient public transportation operations through better software infrastructure. 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,” comments Amos Haggiag, CEO and co-founder of Optibus.
Volvo Group Venture Capital was founded in 1997 and invests in venture companies in North America and Europe.