Copec WIND Ventures, the strategic venture capital arm of Copec, a leader in energy solutions across Latin America, today announced its investment in and strategic partnership with Optibus, a leading software platform for planning and operating more efficient, sustainable public transportation systems. Through the partnership, Optibus and Copec will explore synergies around bus depot electrification, eBus-as-a-service, and smart charging for passenger transportation providers in Latin America. The investment reinforces Optibus’ status as a dominant player in electric vehicle solutions, and raises the company’s valuation since its Series D round in 2022.
The electric bus market in Latin America represents one of the biggest sustainability and impact opportunities worldwide. In thirty-two Latin American cities, the number of electric buses is expected to increase seven-fold by the end of this decade, growing from the 4,000 e-buses currently deployed to 25,000. This represents an investment opportunity of US$11.6 billion by 2030 and $24.6 billion by 2050, as well as an impact opportunity to create cleaner mobility in a region where public and shared transportation comprises 68% of passenger travel, one of the highest rates globally.
"Copec is committed to leading the development of electromobility and bringing its benefits to more people every day, being a key ally in the electrification of public and private transportation," says Leonardo Ljubetic, Chief Development Officer of Copec. “This partnership allows us to continue taking significant steps towards our mission to accelerate the energy transition in Latin America through innovation and technology. By joining forces with Optibus, we are not only electrifying buses; we are reimagining urban mobility to make it more efficient, accessible and, most importantly, sustainable.”
Leveraging Copec’s significant capacities, Copec WIND Ventures works to accelerate growth for start-ups and scale-ups within the new mobility, energy, and retail sectors. The first unicorn company dedicated to public transportation, Optibus is one of the fastest-growing public transportation start-ups globally. In the Latin American market, Optibus is quickly becoming one of the leading software solutions, used by major operators including RBU Urbano and Grupo Niff and as the planning software for the entire bus network of Manaus and Porto Alegre in Brazil, and Santiago, Chile, where it is used to operate the largest EV fleet in the world outside of China.
"Copec WIND Ventures is deeply committed to fostering innovation that drives concrete impact,” adds Brian Walsh, Head of Copec WIND Ventures. “Our investment in Optibus reflects this commitment and our confidence in its technology to revolutionize public transportation in Latin America. Optibus is at the forefront of this transformation, offering solutions that align with our vision of a more sustainable and efficient mobility landscape."
Optibus' Electric Vehicle (EV) solution enables users to easily define charging times, locations, minimum battery levels, and more.
As bus electrification in Latin America accelerates, manual processes prevalent throughout the local public transportation industry will begin to fail, leading to increased demand for smarter EV management solutions. Using optimization algorithms, artificial intelligence, and cloud computing, Optibus’ software introduces a more efficient way of planning and operating electric buses, enabling the consideration of charging time, fluctuating energy costs, battery discharge rates, and other factors impacting operations and services.
Through joint discovery efforts, Copec and Optibus will explore how the integration of their digital platforms could strengthen their offerings for Latin America’s rapidly growing electric bus industry.
“Every city transitioning to electric buses needs specialized software to support that complex transition,” says Amos Haggiag, CEO and co-founder of Optibus. “Optibus is proud to be on the ground in Latin America to enable more sustainable public transportation and is honored to be working with Copec to strengthen our commitment to the region.”
About Copec WIND Ventures
Based in San Francisco, Copec WIND Ventures is the strategic venture capital (CVC) arm of Copec, one of the leading energy companies in Central and South America and one of the most valued brands throughout Latin America. Copec WIND Ventures leverages Copec’s significant resources to accelerate growth, primarily within Latin America, for startups and scaleups across the world within the new mobility, energy and retail sectors. Visit windventures.vc or follow us on LinkedIn and X.
About Optibus
Optibus is a unified software platform for public transportation planning, scheduling, rostering, operations, and passenger information, powered by artificial intelligence (AI) and optimization algorithms. Transportation agencies and operators in more than 5,000 cities worldwide trust Optibus to improve their operational efficiency and service quality, promote transportation equity, reduce emissions and costs, and modernize their operations. Learn more: www.optibus.com