Volvo’s Venture Capital is investing in sustainable bus software
Volvo Group’s Venture Capital AB has announced it is investing in software company Optibus to optimise its public transport vehicle planning and management.
The investment is part of a shared commitment between the two companies to produce sustainable bus fleets while making transportation operations more efficient.
Volvo Group says high quality and sustainable public transport can be achieved through industry-wide digitalisation and vehicle electrification.
The Volvo Group’s Venture Capital investment in Optibus is a sign the group is accelerating this process in its global public transport sector, as Optibus’s solution is currently in use in 1,000 cities across 26 countries ranging from North America to Asia Pacific.
“Optibus offers a scalable solution and has doubled its revenue year over year,” Volvo Group Venture Capital investment director Christina Brinck says.
“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.”
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Volvo says the bus market is currently transforming as electrification occurs and changes in business models are made, with advanced software solutions becoming key for cities and bus operators looking to take advantage of market development.
“The collaboration with Optibus will contribute to our efforts to support customers with more efficient and sustainable transport solutions,” Volvo Buses president Anna Westerberg says.
“CEO and co-founder of Optibus Amos Haggiag says: “We are honoured to receive this strategic investment from Volvo Group Venture Capital to enable greener, more efficient public transport operations through better software infrastructure.”
“Between Volvo Group, as a global OEM with decades of transport industry expertise, and Optibus, this relationship spurs the synergy needed to advance digitalisation and sustainable fleets.”