Via, the latest Israeli company to list on Wall Street, has signed an important partnership deal with Waymo, Google’s self-driving car company.
Via’s transport management technology will power Waymo’s self-driving taxi service. The first stage of this project will start in Chandler, Arizona.
Via’s platform, designed to manage and connect public transport, will later help Waymo link its taxis with city transportation systems in different U.S. cities. It will also let multiple passengers share one ride, making trips cheaper for customers.
Waymo already runs self-driving taxis in many U.S. cities and gives hundreds of thousands of rides every week. Its biggest market right now is San Francisco.
The company says its cars get into 88% fewer accidents compared to cars driven by people.
Via, founded and run by Daniel Ramot, raised $493 million in its IPO on the New York Stock Exchange just a week ago. The company was valued at $3.7 billion during the offering, and its market value has already grown to $4 billion.
Via was started in 2012 and now has almost 1,000 employees. Around 400 of them work at its development center in Israel.
The company is growing quickly, with yearly growth of over 30% and expected revenues of $429 million. It is still not making a profit, but its losses are getting smaller.
Via mainly works with transportation agencies and local governments that use its platform to improve public transit. The company now has 689 customers, and about 90% of its revenue comes from government agencies, mostly in the U.S.
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