GÖTEBORG, Sweden, July 5, 2022
/PRNewswire/ -- Volvo Group Venture Capital
AB invests in Optibus Ltd, that develops
and provides optimization software for public transportation
planning and management. The investment highlights the companies'
shared commitment to sustainable bus fleets and more efficient
transportation operations.
High quality, sustainable public transportation can be achieved
through industry-wide digitalization and vehicle electrification.
As part of Volvo Group, Volvo Group Venture Capital's investment in
Optibus accelerates the digitalization and electrification of the
global public transportation sector. The Optibus solution is in use
in 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," says
Christina Brinck, Investment
Director, Volvo Group Venture Capital.
The bus market is transforming due to digitalization,
electrification, and changes in business models. 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. "The
collaboration with Optibus will contribute to our efforts to
support customers with more efficient and sustainable transport
solutions," says 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," says 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. The aim is to drive
transformation by facilitating the creation of new services and
solutions and to support collaborations between start-ups and the
Volvo Group. The market trends shaping the future of transportation
and the strategic priorities of the Volvo Group define the
investment focus areas: Logistics Services, Site Solutions,
Electrification, and Climate Tech.
The transaction has no significant impact on the Volvo Group's
earnings or financial position.
July 5, 2022
Journalists wanting further information, please
contact:
Claes Eliasson, Volvo Group Media
Relations, +46 76 553 72 29
For more information, please visit volvogroup.com
For frequent updates, follow us on Twitter: @volvogroup
The Volvo Group drives prosperity through transport and
infrastructure solutions, offering trucks, buses, construction
equipment, power solutions for marine and industrial applications,
financing and services that increase our customers' uptime and
productivity. Founded in 1927, the Volvo Group is committed to
shaping the future landscape of sustainable transport and
infrastructure solutions. The Volvo Group is headquartered in
Gothenburg, Sweden, employs almost
95,000 people and serves customers in more than 190 markets. In
2021, net sales amounted to SEK 372
billion (EUR 37 billion).
Volvo shares are listed on Nasdaq Stockholm.
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SOURCE AB Volvo