Via gets venture funding for carpooling

[...] it went looking for new financing at a time when venture capitalists have begun to tighten their purse strings amid concern that many of the startups that they have backed may not survive.

The latest round was led by Pitango Growth, an investment firm based in Israel, and included C4 Ventures, Hearst Ventures and the investment firm of the billionaire Roman Abramovich, who may be better known as the owner of the London soccer team Chelsea.

The new money will help the 4-year-old company expand on what it says is a quest to change mass transportation, including expansion within existing markets, like New York City and Chicago, and entering new cities, like Boston and Washington.

Via is the only system designed from the ground up to allow for a fully dynamic public transportation system.

The result is that customers sharing SUVs are picked up close to their current locations and ideally dropped off close to their preferred destinations.

In regions that are less dense, Via is seeking partners that will help subsidize the service or use the technology to provide a similar offering.

[...] fundraising has become more challenging, with startups asked more pointedly about how they will eventually make money.

Ramot said that his company had faced little difficulty, raising money from existing and new investors at what he called a “substantial” rise in valuation and without onerous special terms.