Volvo Group Venture Capital invests in Optibus, a software company for efficient sustainable bus operations
Volvo Group Venture Capital has invested in Optibus, a cloud-native, end-to-end software platform for public transportation planning and operations, to advance bus electrification and the digitalization of the public transportation industry.
Using optimization algorithms, artificial intelligence, and cloud computing, Optibus develops and provides an all-in-one software platform for digitalizing and optimizing the work processes involved in public transportation planning and management.
The Optibus software streamlines business operations, improves passenger services, and supports a smooth transition to 100% electric bus fleets. The SaaS start-up boasts strong business growth; its revenue has doubled year over year, its valuation rose to $1.3 billion last month, and the number of cities using Optibus has more than doubled in the past year, growing to 1,000 cities in 26 countries across North and South America, EMEA, and Asia Pacific.
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.—Christina Brinck, Investment Director, Volvo Group Venture Capital
The collaboration with Optibus will contribute to our efforts to support customers with more efficient and sustainable transport solutions.—Anna Westerberg, President of Volvo Buses
Electric buses have only captured about 20% of the city bus market in Europe and 2% in the US.