Volvo Group Venture Capital AB has invested in Autotech Ventures—a US-based venture capital fund focusing on start-ups in the ground transportation sector. Autotech Ventures, located in Silicon Valley, manages more than $200 million that focuses on the $3-trillion ground transportation sector.
Connected, autonomous, electrified vehicles and related mobility services have created shifts in the ground transportation industry. The Autotech Ventures team combine knowledge and insights from the ground transport sector with experience from venture capital investing.
The role of Volvo Group Venture Capital is to make investments in innovative companies at the forefront of service orientation as well as product differentiation and to support collaboration between startup companies and the Volvo Group.
Based on the trends shaping the future of transportation and Volvo Group strategic priorities Volvo Group Venture Capital focus investment areas are today Autonomous Solutions, Connected Services and Electromobility. The scope is global with a focus on Europe and North America.
The transaction has no significant impact on the Volvo Group’s earnings or financial position.