Volvo

Volvo, headquartered in Gothenburg, Sweden, operates primarily through two main entities: the Volvo Group and Volvo Cars. The Volvo Group is a leading manufacturer of trucks, buses, construction equipment, and marine engines, providing comprehensive solutions including financing and maintenance services. It has a strong global presence, with production facilities in 19 countries and sales in over 190 markets. The group emphasizes innovation and sustainability in its products, which include vehicles for long-haulage and urban transport, as well as construction machinery. In contrast, Volvo Cars focuses on designing and manufacturing premium passenger vehicles, including sedans, SUVs, and wagons. It is known for its commitment to safety, design, and sustainability, offering vehicles that integrate advanced technologies and environmentally friendly options. Volvo Cars operates in key markets such as the United States, China, and Europe, and is currently a subsidiary of Geely Sweden Holdings. Together, these divisions reflect Volvo's dedication to providing high-quality transportation solutions while prioritizing environmental responsibility.

Christina Brinck

Investment Director

Réka Burgren

Investment Director

Johan M. Carlsson

CEO

Stig Fagerståhl

Investment Director

David Hanngren

Investment Director

Erik Johansson

Investment Director

Charlotta Modig

CFO

Stefan Söderling

Investment Director

Dan Tram

Investment Manager

Martin Witt

President

35 past transactions

Foretellix

Series C in 2023
Foretellix Ltd. specializes in developing a verification framework for Intelligent Autonomous Systems, with a primary focus on Autonomous Vehicles. Founded in 2010 and based in Tel Aviv, Israel, the company provides solutions for inspecting and verifying the safety of complex automated driving systems. Foretellix has created a unique language that serves as a standard for describing scenarios related to autonomous vehicle operation. By employing a Coverage Driven Verification methodology, which has been successfully utilized in the semiconductor industry, Foretellix aims to enhance the safety verification and validation processes for Advanced Driver Assistance Systems (ADAS) and autonomous vehicles. The company's innovative approach aims to reduce risks, costs, and time to market in the rapidly evolving field of automotive technology.

Optibus

Venture Round in 2022
Optibus leverages the power of machine-learning and optimization algorithms to redefine the way mass-transportation is planned and operated. Optibus’ disruptive technology drive some of the most complex transportation operations worldwide, helping to improve the quality of service, increase efficiencies, save money, and streamline operations.

Connected Energy

Venture Round in 2022
Connected Energy Ltd develops E-STOR which converts car batteries into energy storage systems. It uses recycled electric vehicle batteries to allow businesses to store excess energy which can be used later. The company offers software and services that provides load management services to maximize the potential for efficiencies and savings. It offers its technology to various sectors, such as healthcare, education, industrial, retail and commercial, water and waste, local authorities, and electricity utilities. The company was founded in 2010 and is based in Newcastle upon Tyne, United Kingdom. Connected Energy Ltd operates as a subsidiary of Future Transport Systems Ltd.

Aurora

Post in 2021
Aurora Innovation, Inc. is a technology company focused on developing software and hardware solutions for self-driving vehicles. Founded in 2016 and headquartered in Palo Alto, California, the company also has offices in the Bay Area, Bozeman, Pittsburgh, and Dallas. Aurora's primary product, the Aurora Driver, aims to transform transportation by integrating with automakers, logistics services, mobility services, and fleet management providers. The company's mission is to enhance the movement of people and goods through advanced engineering and machine learning, addressing significant challenges in the transportation sector.

Foretellix

Series B in 2021
Foretellix Ltd. specializes in developing a verification framework for Intelligent Autonomous Systems, with a primary focus on Autonomous Vehicles. Founded in 2010 and based in Tel Aviv, Israel, the company provides solutions for inspecting and verifying the safety of complex automated driving systems. Foretellix has created a unique language that serves as a standard for describing scenarios related to autonomous vehicle operation. By employing a Coverage Driven Verification methodology, which has been successfully utilized in the semiconductor industry, Foretellix aims to enhance the safety verification and validation processes for Advanced Driver Assistance Systems (ADAS) and autonomous vehicles. The company's innovative approach aims to reduce risks, costs, and time to market in the rapidly evolving field of automotive technology.

Upstream Security

Series C in 2021
Upstream is the first cloud-based centralized cybersecurity and analytics platform that protects the technologies and applications of connected and autonomous vehicles fleet. The platform leverages big data and machine learning to provide OEMs and vehicle fleets with unprecedented, comprehensive, and non-intrusive defense. With application security, real-time data protection and anomaly detection, attacks are identified and blocked before they reach and harm the vehicle's network. Upstream Security helps corporations mitigate connectivity risks and ensure the safety and security of smart mobility solutions protecting connected and autonomous vehicles. It also secures drivers, vehicles, and mobility services from misuse and cyber-attacks. Upstream C4 is a data-driven cloud-based platform that integrates with automotive data streams of vehicles and promises to detect incidents as they happen in real-time and allocating a rating based on perceived impact and severity The company was received the 15th Annual 2019 Info Security PG’s Global Excellence Awards in Automotive Security (IoT) and Cybersecurity Excellence Awards 2019 - Gold Winner (Automotive Cybersecurity Category). Upstream Security was founded in February 2017 and is based in Herzliya, Tel Aviv, Israel.

Polestar

Corporate Round in 2021
Polestar is an electric performance brand, focused on uncompromised car design and technology. A Volvo subsidiary, Polestar is at the center of Electromobility, introducing world-class electrified cars and innovative, customer- focused services and offers. Polestar is set to launch a range of electric vehicles. Polestar 1 will begin production in 2019 whilst Polestar 2 and 3 are already at advanced stages of development.

FourKites

Series D in 2021
FourKites, Inc. develops software platform for freight brokers and shippers to streamline their operations. It offers a real-time tracking platform for shippers, carriers, third party logistics companies, and freight brokers; BackHaul Management, a solution that identifies details about the window in which deadhead miles could potentially occur; and CarrierLink, a solution that helps brokers and owner-operators sync up in real time. FourKites, Inc. was incorporated in 2013 and is headquartered in Chicago, Illinois.

Driivz

Funding Round in 2021
Driivz develops a cloud-based electric vehicle (EV) charging management platform that provides comprehensive solutions for managing EV operations, including chargers, drivers, and energy usage. Founded in 2012 and headquartered in Sherman Oaks, California, the platform serves a wide range of stakeholders, including fleet managers, charger hosts, and utilities. Driivz's system includes modules for operations management, energy management, billing, and driver self-service tools, which can function independently or as an integrated solution. It allows users to monitor charger availability, manage transactions and memberships, analyze charging trends, and receive real-time alerts about potential issues. The platform is compatible with over 170 charger types and complies with various industry standards, enabling optimal grid utilization and integration with renewable energy sources. Driivz's software supports the operations of EV charging networks globally, helping service providers enhance the charging experience for drivers and streamline their infrastructure management.

Flock Freight

Series C in 2020
Flock Freight Inc. specializes in less-than-truckload (LTL) freight shipping and management services across North America. The company uses innovative algorithms to pool LTL and partial-truckload shipments into full truckloads, enhancing efficiency and reducing costs for businesses. Its flagship product, FlockDirect, enables seamless transportation of pooled freight without the need for terminals, ensuring safe and direct deliveries. Additionally, Flock Freight offers a technology platform that consolidates multiple shipments into multi-stop routes, optimizing logistics for shippers and maximizing revenue opportunities for carriers. Founded in 2015 and headquartered in Solana Beach, California, Flock Freight aims to transform the LTL freight industry through advanced technology and a focus on customer experience.

Adnavem

Venture Round in 2020
Adnavem AB is a Gothenburg-based company that operates a software as a service (SaaS) enabled marketplace for container freight transportation. Founded in 2017, Adnavem connects transport buyers directly with sellers, facilitating various delivery options, including door-to-door, port-to-door, port-to-port, and door-to-port services. The platform enhances cooperation among global transportation parties by providing real-time data, notifications, and pricing information. Additionally, it emphasizes minimizing carbon dioxide emissions, allowing companies to select the most environmentally friendly transportation solutions.

Autotech Ventures

Venture Round in 2019
Autotech Ventures is a Menlo Park-based venture capital firm founded in 2013 that manages over $120 million to invest in startups within the $3 trillion ground transportation industry. The firm focuses on early-stage investments in sectors such as mobility technology, autonomous vehicles, artificial intelligence, and electrification. Autotech Ventures aims to capitalize on the significant changes affecting traditional transportation players, including vehicle manufacturers and logistics firms, by providing startups with essential resources. These include capital for business execution, access to a network of industry contacts, market intelligence, talent recruitment support, and assistance in raising additional funds. By bridging the gap between rapidly innovating startups and established corporations that scale quickly, Autotech Ventures seeks to foster the development of the future of transportation.

Apex.AI

Venture Round in 2019
Apex.AI, Inc. develops software products specifically designed for autonomous mobility systems. Its primary offering, Apex.OS, is a software framework that simplifies the complexity of hardware, middleware, and interfaces, providing users with safe and secure APIs. The company also offers Apex.Autonomy, which is tailored for safety-critical applications. Additionally, Apex.AI features MARV.Automotive, an extensible data management platform that facilitates data transfer from vehicles to the cloud, enabling dynamic search-based analytics, log analysis, real-time algorithm execution, and data introspection through graphical tools. Founded in 2017 and headquartered in Palo Alto, California, Apex.AI aims to create robust and reliable operating systems for autonomous vehicles.

Upstream Security

Series B in 2019
Upstream is the first cloud-based centralized cybersecurity and analytics platform that protects the technologies and applications of connected and autonomous vehicles fleet. The platform leverages big data and machine learning to provide OEMs and vehicle fleets with unprecedented, comprehensive, and non-intrusive defense. With application security, real-time data protection and anomaly detection, attacks are identified and blocked before they reach and harm the vehicle's network. Upstream Security helps corporations mitigate connectivity risks and ensure the safety and security of smart mobility solutions protecting connected and autonomous vehicles. It also secures drivers, vehicles, and mobility services from misuse and cyber-attacks. Upstream C4 is a data-driven cloud-based platform that integrates with automotive data streams of vehicles and promises to detect incidents as they happen in real-time and allocating a rating based on perceived impact and severity The company was received the 15th Annual 2019 Info Security PG’s Global Excellence Awards in Automotive Security (IoT) and Cybersecurity Excellence Awards 2019 - Gold Winner (Automotive Cybersecurity Category). Upstream Security was founded in February 2017 and is based in Herzliya, Tel Aviv, Israel.

InductEV

Venture Round in 2019
InductEV, formerly known as Momentum Dynamics, specializes in advanced wireless charging technologies for electric vehicles and transportation applications. Founded in 2009 and based in Malvern, Pennsylvania, the company offers a modular and scalable inductive charging system that enables electric passenger vehicles, industrial vehicles, commercial vehicles, and electric buses to recharge without the need for wires or cables. Their wireless charging systems can deliver power ranging from 1 kilowatt to 300 kilowatts, achieving power transfer efficiencies exceeding 94%. InductEV aims to facilitate the widespread adoption of electric and plug-in hybrid vehicles by providing innovative, user-friendly charging solutions that connect vehicles to the electrical power grid seamlessly.

FreeWire

Series A in 2018
FreeWire Technologies, Inc. is a manufacturer of mobile electric vehicle (EV) chargers based in San Leandro, California. Established in 2014, the company specializes in smart battery systems that provide mobile and distributed power solutions. Its product line includes the Mobi Charger v0, capable of charging at speeds of up to 5kW, the Mobi Charger v1, which offers charging as a service with attendant support, and the Mobi Charger v2, a semi-autonomous unit that provides dual level 2 and single level 3 charging options. FreeWire's systems deliver clean and quiet power on-site, effectively replacing or supplementing diesel generators for various remote power applications. By offering flexible and easily deployable charging solutions, FreeWire enables its customers to electrify operations previously reliant on fossil fuels while avoiding the complexity and costs associated with traditional infrastructure upgrades. The company is supported by venture capital and partnerships with global corporations.

FreeWire

Corporate Round in 2018
FreeWire Technologies, Inc. is a manufacturer of mobile electric vehicle (EV) chargers based in San Leandro, California. Established in 2014, the company specializes in smart battery systems that provide mobile and distributed power solutions. Its product line includes the Mobi Charger v0, capable of charging at speeds of up to 5kW, the Mobi Charger v1, which offers charging as a service with attendant support, and the Mobi Charger v2, a semi-autonomous unit that provides dual level 2 and single level 3 charging options. FreeWire's systems deliver clean and quiet power on-site, effectively replacing or supplementing diesel generators for various remote power applications. By offering flexible and easily deployable charging solutions, FreeWire enables its customers to electrify operations previously reliant on fossil fuels while avoiding the complexity and costs associated with traditional infrastructure upgrades. The company is supported by venture capital and partnerships with global corporations.

Garantibil

Acquisition in 2017
Garantibil is an online platform dedicated to facilitating serious transactions in the used car market. The company ensures that all vehicles listed for sale undergo thorough testing and evaluation by impartial automotive inspectors and appraisers. Each car is accompanied by full insurance and a two-year warranty, providing buyers with added confidence in their purchase. Additionally, the transaction amount is secured until the purchase agreement is finalized, enhancing the overall safety of the buying process. This approach positions Garantibil as a reliable option in the used car marketplace, distinguishing it from less trustworthy alternatives.

Luxe

Acquisition in 2017
Luxe is a logistics platform focused on providing innovative real-time local services, starting with parking solutions. The Luxe app, available for iPhone, aims to enhance the parking experience by transforming it from a tedious necessity into a more enjoyable aspect of daily life. The company employs a skilled team with backgrounds from notable organizations, including Zynga, Tesla, Google, Yahoo, and Groupon. Luxe utilizes a fleet of pre-screened, friendly valets and offers access to numerous insured and secure indoor parking facilities. Their advanced technology platform monitors the entire parking process, ensuring a seamless experience from car drop-off to pick-up. By addressing the widespread challenge of urban parking, Luxe is setting a new standard in on-demand services.

Peloton Technology

Series B in 2017
Peloton Technology Inc. was founded in 2011 by a team of Silicon Valley entrepreneurs to address major pain points of today’s trucking fleets – accidents and fuel costs. Peloton's system uses radar and DSRC vehicle-to-vehicle communications to link active safety systems between pairs of trucks, reducing collision-related expenses and fuel costs. The drivers remain fully engaged and retain steering control, while the system controls acceleration and braking similar to adaptive cruise control. The dramatic reduction in aerodynamic drag in these platoons provides substantial improvements in fuel economy for both the trailing and leading trucks: with on-road testing showing average savings over 7% between the two trucks.

Peloton Technology

Series A in 2015
Peloton Technology Inc. was founded in 2011 by a team of Silicon Valley entrepreneurs to address major pain points of today’s trucking fleets – accidents and fuel costs. Peloton's system uses radar and DSRC vehicle-to-vehicle communications to link active safety systems between pairs of trucks, reducing collision-related expenses and fuel costs. The drivers remain fully engaged and retain steering control, while the system controls acceleration and braking similar to adaptive cruise control. The dramatic reduction in aerodynamic drag in these platoons provides substantial improvements in fuel economy for both the trailing and leading trucks: with on-road testing showing average savings over 7% between the two trucks.

Cargomatic

Series A in 2015
Cargomatic, Inc. is an online platform that facilitates real-time connections between shippers and pre-screened carriers, primarily serving customers in Southern California. Launched in early 2014 and based in Venice, California, the company enables shippers to submit loads and quickly locate nearby trucks to meet their logistics needs. Since its inception, Cargomatic has successfully expedited tens of thousands of deliveries across California, Chicago, and metropolitan New York. As a subsidiary of Genesee & Wyoming Inc., Cargomatic focuses on providing an efficient and responsive network for local truck availability.

RidePal

Series A in 2013
RidePal is building a network of commuter shuttles for companies of any size and for the general public so that anyone can enjoy the benefits of a shared commute: increased productivity and efficiency, reduced congestion and GHG emissions, and a better quality of life (among others). They are a venture-backed, SF-based startup with an office on Union Square, and they currently operate a dozen+ routes servicing a dozen+ cities around the Bay Area.

Lytx

Venture Round in 2013
Lytx, Inc. develops video-based driver safety and fleet management solutions. The company offers DriveCam that identifies, prioritizes, and corrects the causes of poor driving to set standards for driver safety needs; RAIR web-based suite of compliance services that helps carriers manage CSA, hours-of-service, driver vehicle inspection report, and driver qualification aspects; a fleet tracking solution; and a fuel management solution. The company provides its solutions to trucking and transportation organizations, and their drivers; and the construction, distribution, government, transit, utility, waste and environmental, and commercial markets. It serves customers in the United States and internationally. The company was formerly known as DriveCam, Inc. and changed its name to Lytx, Inc. in November 2013. It was founded in 1998 and is based in San Diego, California.

DataChassi DC AB

Venture Round in 2012
DataChassi has developed wireless alarm systems to protect transport of high value goods and prevent diesel debris. Datachassis system can be tailored to most customer needs. It is easy to expand and benefit from integration into the company's existing transport information system. Almi Invest has invested in DataChassi DC AB together with the West Coast Business Angels and Volvo Group Venture Capital.

Nema Labs

Seed Round in 2009
Nema Labs is a privately held company founded in 2006 with the mission to provide programmers with powerful and easy-to-use threading tools for multi-core platforms. The technology base originates on world-class research by Professor Per Stenstrom and his research team at Chalmers University of Technology in Gothenburg, Sweden. Nema Labs today employs Per Stenstrom's original research team and other key individuals, and is supported by the experienced business incubator Chalmers Innovation.

PowerCell Sweden

Venture Round in 2009
Powercell Sweden AB develops and distributes fuel cell systems for the transport industry and selective high technology markets. It also develops a fuel processor, which converts existing fuel into clean hydrogen that is used to fuel the company's fuel cell system. The company's products are used in trucks and the marine segments. Powercell Sweden AB was founded in 2008 and is based in Gothenburg, Sweden.

SDC Materials,Inc.

Venture Round in 2009
SDCmaterials, Inc is a privately held company that was founded in 2004 with a vision centered on Revolutionizing Materials Engineering. Their corporate mission is to create novel, high value, nano‐enhanced products that are easily integrated into Their customers’ manufacturing processes. The company’s primary focus is emission control catalyst ingredients for the automobile industry. SDC has developed proprietary catalytic materials fabrication and integration processes that are enabling step‐function improvements in the performance efficiencies of the underlying precious metals that are key to emissions control.

Vaprema

Series B in 2008
Vaperma is a developer, manufacturer, and supplier of advanced gas separation systems. Vaperma breakthrough patented polymer membrane technology combines solvent and high temperature resistance into a strong hollow fiber which enables to address many industrial applications. Vaperma advanced gas separation systems primarily target dewatering (''dehydration'') in a range of existing energy and industrial markets, including ethanol and natural gas processing applications. It can be used for applications such as the production of fuel-grade ethanol and the dehydration of natural gas, biogas, and chemicals. With Vaperma’s patented hollow-fiber polymer membrane, we offer our customers an energy-saving and eco-friendly solution for high-purity chemical products and a sustainable environment. Vaperma’s growth strategy is to focus on continuously improving its gas separation technologies to meet the broadest range of customer needs.

I-Tech

Venture Round in 2008
I-Tech AB, a bio-technology company, develops and commercializes fouling prevention products in Sweden. The company offers Selektope, a bio-repellent ingredient for marine coatings that provide hard fouling prevention for ships. It serves marine coatings manufacturers. The company was founded in 2000 and is based in Mölndal, Sweden.

TranSiC

Series B in 2008
TranSiC offers bipolar junction transistors in silicon carbide for clean tech efficient power electronics systems. The company's products are developed for higher voltages, higher operating temperatures and lower losses.

Vaprema

Venture Round in 2007
Vaperma is a developer, manufacturer, and supplier of advanced gas separation systems. Vaperma breakthrough patented polymer membrane technology combines solvent and high temperature resistance into a strong hollow fiber which enables to address many industrial applications. Vaperma advanced gas separation systems primarily target dewatering (''dehydration'') in a range of existing energy and industrial markets, including ethanol and natural gas processing applications. It can be used for applications such as the production of fuel-grade ethanol and the dehydration of natural gas, biogas, and chemicals. With Vaperma’s patented hollow-fiber polymer membrane, we offer our customers an energy-saving and eco-friendly solution for high-purity chemical products and a sustainable environment. Vaperma’s growth strategy is to focus on continuously improving its gas separation technologies to meet the broadest range of customer needs.

TranSiC

Series A in 2006
TranSiC offers bipolar junction transistors in silicon carbide for clean tech efficient power electronics systems. The company's products are developed for higher voltages, higher operating temperatures and lower losses.

Illuminate Labs

Venture Round in 2005
Headquartered in Gothenburg, Sweden, Illuminate Labs develops and markets rendering and baking technology especially tailored to satisfy the needs of game developers based on the proprietary LiquidLight technology. Turtle is a sophisticated rendering and baking plug-in for Autodesk Maya used for lighting and content creation in next-gen game development. Beast is a game engine-independent content pipeline tool used for advanced global illumination and dynamic relighting of characters.
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