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

Past deals in Automotive

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.

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.

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.

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 Ltd. operates an online platform that simplifies the process of buying new cars by connecting consumers with dealerships. The platform allows users to compare offers on configured cars, facilitating a more transparent and efficient purchasing experience without the need for haggling. Carwow also provides valuable buying advice, including car reviews, recommendations for choosing the right vehicle, and guidance on financing and selling cars. Founded in 2009 and based in London, the company aims to enhance the car buying experience by streamlining interactions between buyers and official dealers, ultimately improving stock turnover for dealerships while helping consumers find reasonable prices. Carwow was previously known as Digital Blurb Limited before rebranding in May 2013.

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.

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.

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.

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.

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.

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.

UVeye

Series A in 2019
UVeye Ltd. is a technology company specializing in the development of automatic vehicle inspection systems. Founded in 2016 and based in Stamford, Connecticut, the company utilizes advanced camera technologies and computer algorithms to thoroughly examine vehicles, focusing on the undercarriage, tires, and exterior. Its systems are capable of detecting anomalies such as oil leaks, rust, paint damage, tire issues, and other modifications within seconds. UVeye's products include stationary and mobile inspection units, equipped with multiple high-resolution cameras that generate 3D images and employ machine learning for real-time analysis. The company serves a diverse clientele, including government entities, automotive manufacturers, and private enterprises, with installations at over 200 sites globally. Notable partnerships with major automotive brands have further solidified its presence in the market, enhancing vehicle maintenance and security protocols.

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.

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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