AI-driven mass transit operations platform Optibus raises $100 million

Oluwajuwonlo Afolabi -

Optibus, an AI-driven mass transit operations startup based in Israel has raised $100 million in its Series D funding round and is now valued at $1.3 billion.

  • The funds will be used to expand the startup's services, products, and businesses, it claims.
  • Optibus is a platform used for tracking and powering about 2.5 billion trips on buses, on-street trams, light rails, and subways worldwide annually.  
  • The platform last raised $107 million in its Series C round at a $500 million valuation.
  • The latest funding round was backed by Insight Partners, Bessemer Venture Partners, Verizon Ventures, Pitango First & Pitango Growth, Tencent, and SOMV Momentum.