Volvo Group Venture Capital has invested in Autotech Ventures – a leading American venture capital fund focusing on start-ups in the ground transportation sector.
Connected, autonomous, electrified vehicles, and related mobility services have created shifts in the ground transportation industry.
“We look forward to interacting with more world-class start-ups transforming our industry,” said Anna Westerberg acting CEO of Volvo Group Venture and Senior Vice President at Volvo Group Connected Solutions.
Autotech Ventures is a venture capital firm located in Silicon Valley, managing over $200 million that focuses on the transportation sector.
”The investment provides Volvo Group Venture Capital with an enhanced deal flow but also access to deep industry knowledge and relevant networks,” said Dan Tram Investment Director, Volvo Group Venture Capital based in Silicon Valley.
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 start-up companies and the Volvo Group.