Optibus Raises $100 Million for Public Transport Planning: Travel Startup Funding This Week

Travel Startup Funding This Week

Each week we round up travel startups that have recently received or announced funding. Please email Travel Tech Reporter Justin Dawes at [email protected] if you have funding news.

>> Optibus, a platform for public transportation planning and operations, has raised $100 million.

The Series D funding came from new and existing investors including Insight Partners, Bessemer Venture Partners, Verizon Ventures, Pitango First & Pitango Growth, Tencent, SOMV Momentum.

It will use the money to expand into new product and service offerings, including electric vehicle management, and to grow in new markets. It also launched Ridership Insights to help planners “redesign transportation systems to increase ridership and build back better.”

Optibus counts transportation agencies and operators in 1,000 cities worldwide as clients. This latest round of financing brings the total funding value to $260 million, and Optibus claims it’s the first “unicorn” dedicated to the public transportation sector, with a valuation of $1.3 billion.

>> ennea capital partners has launched ennea Invest, a new fund to finance start-ups in the travel and hospitality industry. Overseeing it are Sven Sterzenbach, Tobias Wolfshohl and Jan-Frederik Valentin, former senior vice president and managing director at Kayak Europe. Investments will focus on technology-based start-ups from Europe and America. It has already made its first investments in WeTravel from Silicon Valley and Lambus, based in Osnabruck, Germany.

Skift Cheat Sheet

Seed capital is money used to start a business, often led by angel investors and friends or family.

Series A financing is typically drawn from venture capitalists. The round aims to help a startup’s founders make sure that their product is something that customers truly want to buy.

Series B financing is mainly about venture capitalist firms helping a company grow faster. These fundraising rounds can assist in recruiting skilled workers and developing cost-effective marketing.

Series C financing is ordinarily about helping a company expand, such as through acquisitions. In addition to VCs, hedge funds, investment banks, and private equity firms often participate.

Series D, E, and, beyond These mainly mature businesses and the funding round may help a company prepare to go public or be acquired. A variety of types of private investors might participate.