Volvo Cars Tech Fund

Volvo Cars Tech Fund is an investment initiative by Volvo Cars that focuses on funding promising technology start-ups worldwide. This fund seeks to capitalize on strategic technology trends that are reshaping the automotive industry, particularly in areas such as artificial intelligence, electrification, autonomous driving, and digital mobility services. By investing in these sectors, the fund aims to support innovation and advancements that align with Volvo's vision for the future of transportation.

Zaki Fasihuddin

CEO

36 past transactions

NEURA Robotics

Series B in 2025
NEURA Robotics develops robotic assistants designed to cooperate naturally with humans and adapt autonomously to environmental changes. These robots enhance cognitive abilities, aiding companies across industries such as medicine technologies, home automation, and food production to accelerate processes.

Altris

Series B in 2024
Altris develops sustainable cathode material, Fennac®, for sodium-ion batteries. Made from abundant, non-toxic materials like iron, sodium, carbon, and nitrogen, it promotes efficient energy storage while reducing dependency on scarce resources like lithium, cobalt, and nickel.

RemotiveLabs

Venture Round in 2024
RemotiveLabs develops a cloud-based automotive software platform that simplifies vehicle manufacturing processes. It offers tools for efficient software development and testing, enabling vehicle manufacturers to manage their software development in-house.

Bcomp

Series C in 2024
Bcomp Ltd., founded in 2003 and headquartered in Fribourg, Switzerland, specializes in manufacturing natural fiber composites. The company's primary products include ampliTex (natural flax fiber), bCores (lightweight wood core), and powerRibs (natural fiber composite reinforcement). Bcomp serves industries such as sports, automotive, acoustics, aerospace, electronics, design, and leisure by providing eco-friendly alternatives to traditional materials.

Breathe Battery Technologies

Venture Round in 2024
Physics-based adaptive charging for software-defined batteries. We help the world’s leading automotive and consumer electronics brands deliver superior charging experiences. Our dream is that one day everyone will breathe clean air. That's why we make batteries better.

CorrActions

Series A in 2023
CorrActions develops an AI-driven platform that interprets and translates human brain signals in real-time. This enables smarter machines across aviation, automotive, medical, and tech industries, enhancing human-machine interaction efficiency.

Leadrive

Series C in 2023
LEADRIVE is a technology company specializing in the research, development, production, and sales of drive solutions for new energy vehicles, as well as high-performance power semiconductor modules. The company designs and manufactures advanced motor controllers and proprietary power modules that have been adopted by over ten leading automotive manufacturers and Tier-1 suppliers for mass production. LEADRIVE is also engaged in enhancing the localization of power semiconductor modules, with ongoing certification processes for silicon carbide modules and electronic controls. Additionally, the company invests in innovative energy solutions, including wind, solar, and energy storage systems. In collaboration with Rohm Semiconductor from Japan, LEADRIVE has established a joint laboratory to develop various silicon carbide modules, focusing on improving efficiency through comprehensive simulation, testing, and development processes that span from device-level to vehicle-level applications.

dcbel

Venture Round in 2023
dcbel develops smart home energy systems that enable households to manage energy supply through a single platform, combining solar inverters, energy management software, and AI-driven forecasting to optimize consumption, store energy during off-peak periods, and prepare for outages. It also supports bidirectional DC fast charging for homes, enabling more efficient charging of electric vehicles. The all-in-one home energy management system is designed to operate across climates and residences, helping users reduce energy costs and lower their environmental footprint by integrating generation, storage, and vehicle charging.

RIIICO

Convertible Note in 2023
RIIICO specializes in software development and artificial intelligence. It operates a 3D modeling platform designed to create intelligent, accurate models of any location. These models can be interactively explored and used for project simulations.

CorrActions

Series A in 2023
CorrActions develops an AI-driven platform that interprets and translates human brain signals in real-time. This enables smarter machines across aviation, automotive, medical, and tech industries, enhancing human-machine interaction efficiency.

Humane

Series C in 2023
Humane is a technology company based in San Francisco that designs and sells consumer hardware, software, and services. Founded in 2016, it emphasizes human-first technology and aims to deliver devices and platforms that feel familiar, natural, and humane. The company focuses on a close collaboration between design and engineering to create products that simplify interactions and reshape the relationship between people and computing, delivering integrated hardware and software experiences that reflect a user-centric approach.

RemotiveLabs

Seed Round in 2022
RemotiveLabs develops a cloud-based automotive software platform that simplifies vehicle manufacturing processes. It offers tools for efficient software development and testing, enabling vehicle manufacturers to manage their software development in-house.

Varjo

Series D in 2022
Varjo Technologies, established in 2016 and based in Helsinki, Finland, specializes in the development of high-fidelity virtual and augmented reality headsets. Its flagship product features a unique bionic display, offering human-eye resolution in the central field of view, surrounded by lower-resolution displays. This design mimics human vision, enhancing immersion and performance in VR and AR experiences. Varjo's customer base includes prominent industry leaders such as Boeing, Lockheed Martin, and Audi, demonstrating the practical applications of its technology in various sectors. The company aims to transform how people work, interact, and play by pioneering metaverse technologies.

Circulor

Series B in 2022
Circulor Ltd. is a company that specializes in developing a blockchain-based traceability system for industrial supply chains. Founded in 2017 and headquartered in London, with an additional office in Dublin, Circulor serves a diverse clientele, including car manufacturers, electric vehicle battery producers, commodity traders, and miners. The company's innovative platform leverages blockchain technology and artificial intelligence to enhance the traceability and due diligence processes in raw material sourcing. By tracking materials, emissions, and compliance throughout the supply chain, Circulor enables its customers to secure deliveries, manage payments, and verify the provenance of their raw materials, supporting their sustainability and responsible sourcing objectives.

StoreDot

Corporate Round in 2022
StoreDot is an Israeli battery technology company specializing in extreme fast charging for electric vehicles and mobile devices. It develops and commercializes battery technologies that combine nano-structural materials with organic and inorganic compounds and proprietary electrolytes, with artificial intelligence to optimize performance and charging dynamics. The company aims to deliver faster charging, higher energy density, and safer operation by replacing conventional materials with advanced designs inspired by nature. Founded in 2012 and headquartered in Ramat-Gan, StoreDot positions itself as a materials and device innovator striving to accelerate the adoption of electrified transport and consumer devices through XFC capabilities.

carwow

Venture Round in 2022
Carwow is an online platform that connects car buyers directly with dealerships, facilitating transparent comparisons of offers on configured cars. It provides comprehensive buying advice and enables seamless transactions between consumers and official dealers.

Bcomp

Series B in 2022
Bcomp Ltd., founded in 2003 and headquartered in Fribourg, Switzerland, specializes in manufacturing natural fiber composites. The company's primary products include ampliTex (natural flax fiber), bCores (lightweight wood core), and powerRibs (natural fiber composite reinforcement). Bcomp serves industries such as sports, automotive, acoustics, aerospace, electronics, design, and leisure by providing eco-friendly alternatives to traditional materials.

Spectralics

Venture Round in 2021
Founded in 2017, Spectralics is an Israeli company specializing in developing advanced optical technologies. It focuses on creating innovative solutions using metamaterials and nanotechnology to enhance displays, interfaces, cameras, sensors, and medical devices.

Niron Magnetics

Venture Round in 2021
Niron Magnetics, Inc. is a Minneapolis-based company founded in 2013, specializing in the development and manufacturing of permanent magnets made from advanced iron nitride materials. These innovative magnets are designed for various industrial applications, including motors and generators, where they offer enhanced performance and efficiency. Niron's iron nitride magnets feature high magnetization and greater magnetic flux density compared to traditional ferrite and NdFeB-based magnets, enabling manufacturers in sectors such as automotive and computing to reduce size and weight without sacrificing power or torque. Additionally, Niron Magnetics collaborates with government entities and investors to promote national security initiatives through their cutting-edge technology.

Circulor

Series A in 2021
Circulor Ltd. is a company that specializes in developing a blockchain-based traceability system for industrial supply chains. Founded in 2017 and headquartered in London, with an additional office in Dublin, Circulor serves a diverse clientele, including car manufacturers, electric vehicle battery producers, commodity traders, and miners. The company's innovative platform leverages blockchain technology and artificial intelligence to enhance the traceability and due diligence processes in raw material sourcing. By tracking materials, emissions, and compliance throughout the supply chain, Circulor enables its customers to secure deliveries, manage payments, and verify the provenance of their raw materials, supporting their sustainability and responsible sourcing objectives.

Exmet

Venture Round in 2020
Exmet AB, founded in 2009 and based in Kista, Sweden, specializes in additive manufacturing technology for producing components made from amorphous and nanocrystalline metal alloys. The company's innovative approach enables the creation of metal parts of any size, shape, or thickness while significantly reducing weight—up to 90% for mechanical components. Exmet's technology also enhances performance by minimizing energy losses in magnetic components, making it suitable for a variety of industries, including aerospace, automotive, energy, defense, and medical devices. The company's products are characterized by their resistance to corrosion and impressive strength, positioning Exmet as a key player in the advancement of manufacturing techniques for high-performance metal components.

Actasys

Seed Round in 2020
Actasys is a technology company that develops sensor integrity solutions for mobility, smart cities and manufacturing. Its ActaJet systems keep automotive perception sensors clean and healthy, mitigating environmental effects on ADAS and autonomous vehicle operation, detecting sensor impacts, correcting degraded data, and providing diagnostic health information to improve safety and reliability. The company also offers an energy-efficient jetting platform that uses electronically controlled actuators to direct air jets for cooling and stabilization of sensor-dependent systems, including data centers and other environments where sensor data quality is critical. Actasys is based in Brooklyn, New York, with teams in Tel Aviv and other locations, serving customers across automotive, transportation, robotics, smart cities and industrial sectors.

Luminar Technologies

Post in 2020
Founded in 2012, Luminar Technologies is a leading provider of advanced driver assistance systems for vehicles. The company specializes in designing, manufacturing, and selling LiDAR sensors and related perception software solutions, primarily serving original equipment manufacturers in the automobile, commercial vehicle, robo-taxi, and adjacent industries.

Alchemist Accelerator

Venture Round in 2020
Founded in 2012, Alchemist Accelerator is a San Francisco-based startup accelerator focused on seed-stage ventures that generate revenue from enterprises. It invests up to $40,000 and provides a six-month program offering mentorship, structured path to traction, fundraising, and community support for around 75 enterprise-focused startups annually.

Varjo

Series C in 2020
Varjo Technologies, established in 2016 and based in Helsinki, Finland, specializes in the development of high-fidelity virtual and augmented reality headsets. Its flagship product features a unique bionic display, offering human-eye resolution in the central field of view, surrounded by lower-resolution displays. This design mimics human vision, enhancing immersion and performance in VR and AR experiences. Varjo's customer base includes prominent industry leaders such as Boeing, Lockheed Martin, and Audi, demonstrating the practical applications of its technology in various sectors. The company aims to transform how people work, interact, and play by pioneering metaverse technologies.

MDGo

Series A in 2020
MDGo Ltd is a technology company based in Haifa, Israel, established in 2017, that specializes in trauma analysis systems for vehicles. The company utilizes existing vehicle sensors to generate comprehensive reports following car accidents, detailing the accident mechanism, external and internal damages, and the severity of passengers' injuries. This information is automatically transmitted to first responders and relevant hospitals, facilitating immediate medical attention, which has the potential to significantly reduce road fatalities. Additionally, MDGo's platform offers a unique advantage for original equipment manufacturers (OEMs) by creating new revenue streams through the automation of insurance claims processes, thereby enhancing the efficiency of insurers in managing claims.

Circulor

Venture Round in 2020
Circulor Ltd. is a company that specializes in developing a blockchain-based traceability system for industrial supply chains. Founded in 2017 and headquartered in London, with an additional office in Dublin, Circulor serves a diverse clientele, including car manufacturers, electric vehicle battery producers, commodity traders, and miners. The company's innovative platform leverages blockchain technology and artificial intelligence to enhance the traceability and due diligence processes in raw material sourcing. By tracking materials, emissions, and compliance throughout the supply chain, Circulor enables its customers to secure deliveries, manage payments, and verify the provenance of their raw materials, supporting their sustainability and responsible sourcing objectives.

UVeye

Series A in 2019
UVeye designs and manufactures advanced camera inspection systems for vehicles. Its products automatically detect anomalies, modifications, or foreign objects in a vehicle's undercarriage using computer algorithms and high-resolution cameras. UVeye caters to various industries including government compounds, dealerships, auctions, and fleets worldwide.

MDGo

Venture Round in 2019
MDGo Ltd is a technology company based in Haifa, Israel, established in 2017, that specializes in trauma analysis systems for vehicles. The company utilizes existing vehicle sensors to generate comprehensive reports following car accidents, detailing the accident mechanism, external and internal damages, and the severity of passengers' injuries. This information is automatically transmitted to first responders and relevant hospitals, facilitating immediate medical attention, which has the potential to significantly reduce road fatalities. Additionally, MDGo's platform offers a unique advantage for original equipment manufacturers (OEMs) by creating new revenue streams through the automation of insurance claims processes, thereby enhancing the efficiency of insurers in managing claims.

Luminar Technologies

Venture Round in 2019
Founded in 2012, Luminar Technologies is a leading provider of advanced driver assistance systems for vehicles. The company specializes in designing, manufacturing, and selling LiDAR sensors and related perception software solutions, primarily serving original equipment manufacturers in the automobile, commercial vehicle, robo-taxi, and adjacent industries.

Varjo

Corporate Round in 2019
Varjo Technologies, established in 2016 and based in Helsinki, Finland, specializes in the development of high-fidelity virtual and augmented reality headsets. Its flagship product features a unique bionic display, offering human-eye resolution in the central field of view, surrounded by lower-resolution displays. This design mimics human vision, enhancing immersion and performance in VR and AR experiences. Varjo's customer base includes prominent industry leaders such as Boeing, Lockheed Martin, and Audi, demonstrating the practical applications of its technology in various sectors. The company aims to transform how people work, interact, and play by pioneering metaverse technologies.

Zum

Series C in 2019
Zum Services, Inc., established in 2014, specializes in safe and reliable transportation services for children and youth in the San Francisco Bay Area, Los Angeles, Orange County, and San Diego. The company offers scheduled or on-demand rides, as well as care services like nannies, for school drops and pickups, sports activities, and other needs. Zum's services include single family or carpool rides, one-off rides, babysitting, and stay and watch services, all facilitated through a network of vetted drivers and advanced scheduling technology.

Forciot

Seed Round in 2019
Forciot is a Finnish technology company founded in December 2015, specializing in advanced sensor technology for the Internet of Things (IoT). Emerging from a collaboration between leading wearable researchers from Tampere University of Technology and consumer electronics experts, Forciot aims to revolutionize the wearable technology landscape. The company envisions a future where measurement technologies are seamlessly integrated into everyday sporting products, such as shoes and gloves, eliminating the need for separate devices. Forciot provides business-to-business customers with innovative solutions that enable real-time measurement of force, power, pressure, balance, and weight. Their advanced stretchable electronics and algorithms allow manufacturers to harness valuable data on strength and performance, positioning Forciot as an engineering partner for those looking to develop next-generation IoT products.

FreeWire

Corporate Round in 2018
FreeWire Technologies, Inc. is a manufacturer of mobile electric vehicle (EV) chargers, focused on providing innovative charging solutions that enhance the accessibility of EV charging infrastructure. Established in 2014 and based in San Leandro, California, the company produces several models, including the Mobi Charger v0, v1, and v2, which cater to varying charging needs and capabilities. FreeWire’s flagship product, the Boost Charger, integrates battery technology with power conversion systems, allowing for high-power charging without the need for extensive grid upgrades. This technology enables ultrafast charging at locations that typically lack sufficient electrical infrastructure. FreeWire has successfully deployed its battery-integrated chargers across the United States, serving Fortune 100 companies, commercial clients, fleets, and retail spaces, and has partnered with major organizations to expand its reach. Additionally, the company's systems provide clean and quiet power solutions, effectively replacing or supplementing diesel generators for various remote power applications, thereby supporting the transition away from fossil fuels.

Luminar Technologies

Venture Round in 2018
Founded in 2012, Luminar Technologies is a leading provider of advanced driver assistance systems for vehicles. The company specializes in designing, manufacturing, and selling LiDAR sensors and related perception software solutions, primarily serving original equipment manufacturers in the automobile, commercial vehicle, robo-taxi, and adjacent industries.

Breathe Battery Technologies

Physics-based adaptive charging for software-defined batteries. We help the world’s leading automotive and consumer electronics brands deliver superior charging experiences. Our dream is that one day everyone will breathe clean air. That's why we make batteries better.
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