Volvo Group Venture Capital has invested in Optibus, the provider of a Software-as-a-Service solution designed to facilitate the digitalization and electrification of public transportation. Optibus says its service is in use in 1,000 cities in 26 countries.
“Optibus offers a scalable SaaS solution and has doubled its revenue year over year,” says Christina Brinck, Investment Director, Volvo Group Venture Capital. “We believe the Volvo Group can add considerable strategic value to the continued development of the business.”
“The bus market is transforming due to digitalization, electrification, and changes in business models,” says the Volvo Group. “Advanced software solutions are key for cities and bus operators to take advantage of the market development. Optibus and Volvo Group will collaborate to create mutual strategic learnings and growth opportunities.”
“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,” says Amos Haggiag, CEO and co-founder of Optibus.
Source: Volvo Group