Volvo Group Venture Capital AB invests in Optibus Ltd, a software company for efficient sustainable bus operations, that develops and provides optimization software for public transportation planning and management. According to Volvo this investment in Optibus accelerates the digitalization and electrification of the global public transportation sector.
Volvo expects a transforming in the market due to digitalization, electrification, and thus also changes in business models. The Swedish investment group sees advanced software solutions as key for cities and bus operators to take advantage of the market development and to achieve high quality, sustainable public transportation through industry-wide digitalization and vehicle electrification. “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.
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. Volvo states the transaction has no significant impact on the Volvo Group’s earnings or financial position.