Via Unlocks European Expansion Thanks to Daimler’s Fundraising Initiative

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Via is a different type of transportation platform than behemoths Lyft and Uber. The company focuses on the carpooling concept mostly. It was opened in 2012 with the idea to instate a real-time ridesharing network. For the moment, the company operates only in the suburbs of New York, Washington DC, and Chicago. However, thanks to a round of fundraising that German automaker Daimler organized, Via is now ready for European expansion.

Daimler Reportedly Raised $250 Million for Via to Plan Its European Expansion

The current transportation industry is only beginning to sprout convenient tech ideas for smoother circulation within increasingly crowded urban areas. While ride-hailing Uber and Lyft proposed a more comfortable ride around the city, Via is also offering a solution to heavy traffic. The company has devised a smart platform where drivers can pick up other riders without the need to make any detour.

German automaker Daimler believes in this startup. Therefore, the behemoth organized a large fundraising for Via. The result might have been extremely lucrative with a total sum being around $250 million.

On top of that, Daimler intends to create a long-lasting collaboration. Therefore, its Mercedes Benz division is going to start a joint venture valued at $50 million with this startup. This new project is going to enable Via to unlock a European Expansion. More than that, the company will be able to license its services to European transit municipalities and authorities.

Via States that It Registers 1 Million Rides Per Month

London will be the first contact point with the European market. The joint Via-Daimler on-demand service will become available in this city by the end of 2017. Afterwards, the company plans to conquer other European cities as well as new U.S. regions.

For the moment, Via is operational in New York, Washington DC, and Chicago. The company claimed that it connects people through 1 million rides per month. However, the company tested its services on a smaller scale in other regions as well such as Austin and Orange County.
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