Volvo Venture Capital invests in route-planning software firm
By Bradley Osborne - 24th July 2022
Sweden / Israel – The venture capital division of commercial vehicle manufacturer AB Volvo, based in Gothenburg, Sweden, has announced an investment in Optibus Ltd, a software developer specialising in public transportation management and based in Tel Aviv, Israel. Details as to the level of the investment have not been disclosed.
Using the Optibus platform, public transport operators can, with the aid of algorithm-based optimisation tools, plan workable routes, timetables and rotas at a fraction of the time it would take to do so manually. Users can also incorporate factors such as charging requirements for electric vehicles into the equation. The platform is being used in 1,000 cities across 26 countries in the Americas, EMEA and Asia-Pacific. Volvo is reportedly impressed by the company’s swift growth, and it hopes to “add considerable strategic value to the continued development of the business” through its investment.
