Volvo Car Group, established in 1927, is a global premium car manufacturer headquartered in Gothenburg, Sweden. It produces a range of vehicles including sedans, estates, cross country vehicles, SUVs, and convertibles, renowned for their intuitive Scandinavian design and focus on safety and sustainability. With sales in over 100 countries, Volvo Cars' largest markets are the United States, Sweden, China, Germany, and the UK. The company is committed to sustainable mobility, offering plug-in hybrid and electric cars, and is owned by Zhejiang Geely Holding of China. Volvo Car USA, based in Mahwah, New Jersey, is responsible for the production and sales of Volvo cars in the United States.
CFO and Executive Vice President and Member of the Group Executive Board
Charlotta Modig
CFO
Hakan Samuelsson
CEO
50 past transactions
Aifleet
Series B in 2024
Aifleet is a pioneering tech-focused trucking company that aims to revolutionize the trucking industry through advanced artificial intelligence. Established in late 2020, Aifleet operates within the extensive full truckload market, emphasizing the need for improved asset utilization. The company employs unique algorithms to assign drivers and provides each driver with a dedicated fleet manager, ensuring personalized support and enhancing their overall experience. Aifleet's innovative approach has resulted in asset utilization rates that are approximately 35% higher than the industry average, demonstrating the effectiveness of its technology-driven model. By prioritizing the needs of drivers and optimizing logistics, Aifleet is committed to transforming the trucking landscape for both drivers and clients.
HaleyTek
Secondary Market in 2024
HaleyTek is a software company specializing in the development of Android automotive-embedded software platforms designed for various vehicles. The company creates software tools that enhance Android-powered infotainment systems, offering functionalities such as navigation, media playback, and voice assistance. By utilizing QNX technology, HaleyTek ensures low latency and rapid startup times, making their solutions suitable for safety-critical applications. Their innovative approach allows for the seamless integration of Android as a guest operating system through hypervisor extensions, thereby improving the overall user experience in modern vehicles.
Commercial Vehicle Group - Cab Structures Business
Acquisition in 2024
Commercial Vehicle Group - Cab Structures Business is a unit of Commercial Vehicle Group that manufactures trucks catering to the Class 8 market.
Waabi
Series B in 2024
Waabi is an artificial intelligence company based in Toronto, Canada, focused on developing autonomous driving technology for the transportation sector. Founded in 2021 by Raquel Urtasun, Waabi offers a self-driving solution called the Waabi Driver, specifically designed for integration with trucks. The company's technology aims to facilitate large-scale commercialization and safe deployment of autonomous vehicles in the logistics and transportation industries. By utilizing advanced deep learning, probabilistic inference, and complex optimization techniques, Waabi's software is capable of complex reasoning and is end-to-end trainable. This approach allows clients to test driving scenarios and safety-critical edge cases in a closed-loop simulator, significantly reducing the need for extensive real-world testing and enhancing safety and cost-effectiveness in the deployment of autonomous trucking solutions.
Holyvolt
Series A in 2024
Holyvolt is a technology company focused on renewable energy solutions, specializing in nano paste screen printing technology. This innovative approach allows for the efficient extraction and storage of energy through the use of nanoparticles, which can generate, illuminate, heat, and store energy. Holyvolt employs a specially modified screen printing machine to apply its nano paste onto any flat surface, enabling its use across various applications and industries. The company's technology avoids toxic and rare earth materials, ensuring a safer production process. Additionally, Holyvolt's products are designed to withstand extreme temperature variations, delivering high-performance solar cells, batteries, and heaters to its clients.
Syre
Series A in 2024
Syre is a textile impact company that focuses on hyperscale textile-to-textile recycling, beginning with polyester.
Proterra Powered
Acquisition in 2023
Proterra Powered is a vehicle manufacturer that focuses on clean zero-emission transportation. The company is a subsidiary of Proterra. By implementing the same technology Proterra used to break the world record for EV range, Proterra Powered partners can keep pace with the industry’s movement toward cleaner, quieter, more powerful vehicles.
Proterra - Battery Modules Business
Acquisition in 2023
Proterra - Battery Modules Business is a unit of Proterra that manufactures battery services.
Polestar
Post in 2023
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.
Trucksters
Series B in 2023
Trucksters is a Madrid-based freight startup that provides long-haul transport services through a unique relay system. This innovative approach utilizes big data and artificial intelligence to enhance the efficiency of long-distance road transit. By implementing relays, Trucksters enables trucks to remain in continuous motion, significantly reducing delivery times and transportation costs. The company operates throughout the European Union and serves over 500 shippers, contributing to the electrification agenda and improving the working conditions for drivers. Through its advanced logistics solutions, Trucksters aims to optimize the global road freight industry.
Foretellix
Series C in 2023
Foretellix Ltd. is a company specializing in the development of a verification framework for Intelligent Autonomous Systems, particularly focusing on Autonomous Vehicles. Established in 2010 and headquartered in Tel Aviv, Israel, Foretellix provides innovative solutions that automate the verification of safety-critical automotive systems. The company has created a platform that enables measurable safety verification, utilizing a coverage-driven methodology that has been successfully applied in the semiconductor industry. This platform facilitates the analysis of safety-related metrics to ensure comprehensive coverage of various driving scenarios, allowing clients to confirm that their vehicles perform safely in critical situations. By addressing the challenges of verifying increasingly complex automated driving systems, Foretellix aims to reduce risks, costs, and time to market for autonomous vehicle deployment.
Waabi
Venture Round in 2023
Waabi is an artificial intelligence company based in Toronto, Canada, focused on developing autonomous driving technology for the transportation sector. Founded in 2021 by Raquel Urtasun, Waabi offers a self-driving solution called the Waabi Driver, specifically designed for integration with trucks. The company's technology aims to facilitate large-scale commercialization and safe deployment of autonomous vehicles in the logistics and transportation industries. By utilizing advanced deep learning, probabilistic inference, and complex optimization techniques, Waabi's software is capable of complex reasoning and is end-to-end trainable. This approach allows clients to test driving scenarios and safety-critical edge cases in a closed-loop simulator, significantly reducing the need for extensive real-world testing and enhancing safety and cost-effectiveness in the deployment of autonomous trucking solutions.
Zenseact
Acquisition in 2023
Zenseact is an automotive software developer focused on enhancing road safety and intelligent mobility. The company creates advanced software that enables vehicles to perceive their surroundings and operate safely without human intervention. By prioritizing the protection of all road users, Zenseact aims to instill a sense of security among passengers, allowing them to relax and enjoy their commuting experience. Through its innovative solutions, Zenseact is committed to making safe and intelligent mobility accessible to everyone, everywhere.
Polestar
Post in 2022
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.
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 specializes in energy storage solutions through its E-STOR technology, which repurposes used electric vehicle batteries for stationary energy storage systems. Founded in 2010 and headquartered in Newcastle upon Tyne, United Kingdom, the company is a subsidiary of Future Transport Systems Ltd. E-STOR enables businesses to store excess energy for later use, optimizing energy efficiency and savings. This innovative technology is compatible with various electric vehicle battery packs, allowing it to communicate using the original equipment manufacturer's proprietary protocols. Connected Energy's systems are operational in several European countries, including the UK, Belgium, Germany, and the Netherlands, with capacities ranging from 60 kW to 1.2 MW, and plans for larger installations exceeding 10 MW. The company's services cater to multiple sectors, including healthcare, education, industry, retail, utilities, and local authorities.
Aurora
Post in 2021
Aurora is a self-driving vehicle company providing a platform that brings software and data services to operate passenger vehicles. To move both people and goods, the company develops Aurora Driver, a platform that brings together software, hardware, and data services to operate passenger vehicles, light commercial vehicles, and heavy-duty trucks. Aurora is backed by Amazon and Sequoia, among others, and partners with industry leaders including Toyota, Uber, Volvo, and Paccar. Aurora tests its vehicles in the Bay Area, Pittsburgh, and Dallas. The company has offices in those areas as well as in Bozeman, MT; Seattle, WA; Louisville, CO; and Wixom, MI.
Foretellix
Series B in 2021
Foretellix Ltd. is a company specializing in the development of a verification framework for Intelligent Autonomous Systems, particularly focusing on Autonomous Vehicles. Established in 2010 and headquartered in Tel Aviv, Israel, Foretellix provides innovative solutions that automate the verification of safety-critical automotive systems. The company has created a platform that enables measurable safety verification, utilizing a coverage-driven methodology that has been successfully applied in the semiconductor industry. This platform facilitates the analysis of safety-related metrics to ensure comprehensive coverage of various driving scenarios, allowing clients to confirm that their vehicles perform safely in critical situations. By addressing the challenges of verifying increasingly complex automated driving systems, Foretellix aims to reduce risks, costs, and time to market for autonomous vehicle deployment.
Upstream
Series C in 2021
Upstream Security is a provider of a cloud-based data management platform specifically designed for connected vehicles, focusing on automotive cybersecurity and data-driven applications. The platform transforms distributed vehicle data into centralized, structured, and contextualized data lakes, enabling customers to create connected vehicle applications. Upstream offers industry-leading cyber threat protection through its AutoThreat® Intelligence, the first dedicated automotive cybersecurity threat intelligence solution, which integrates seamlessly into customer environments and vehicle security operations centers. By leveraging big data and machine learning, the platform delivers real-time visibility on security, privacy, and fraud alerts, helping to safeguard the technologies and applications of connected and autonomous vehicles. Upstream serves a range of prominent automotive OEMs and suppliers, ensuring the protection of millions of vehicles worldwide.
Jiangling Motors
Acquisition in 2021
Jiangling Motors Corporation is an automobile manufacturing company based in China, primarily engaged in the production and sale of light vehicles and relevant spare parts. Its main offerings include a range of commercial vehicles such as light trucks, pick-up trucks, and sport utility vehicles, as well as components like engines, frames, and axles. Notably, the company manufactures Ford-branded light buses and other commercial vehicles under its JMC brand. Jiangling Motors primarily distributes its products within domestic markets, catering to various transportation needs through its diverse lineup of vehicles and components.
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.
Designwerk Technologies
Acquisition in 2021
Designwerk Technologies specializes in the development and production of electric commercial vehicles, battery systems, and charging devices. The company serves both domestic and international markets, offering a range of electromobility products. Its product lineup includes a battery plant storage system, mobile fast chargers with 22 kilowatts and 44 kilowatts capacities, and a wall charging station with a 22 kilowatt capacity available for purchase or rental. Additionally, Designwerk Technologies provides custom engineering services tailored to meet specific automotive battery requirements, allowing customers to adopt sustainable solutions in their operations.
FourKites
Series D in 2021
FourKites, Inc. is a software company that specializes in providing a predictive supply chain platform aimed at enhancing operational efficiency for freight brokers and shippers. Founded in 2013 and based in Chicago, Illinois, the company offers a real-time tracking platform that serves shippers, carriers, third-party logistics providers, and freight brokers. Its solutions include BackHaul Management, which identifies potential deadhead miles, and CarrierLink, which facilitates real-time synchronization between brokers and owner-operators. FourKites stands out in the industry for its Intelligent Control Tower, which utilizes AI-driven technology to create digital twins of supply chains, automate resolutions, and improve collaboration among stakeholders. By processing actionable data from various transportation modes, FourKites helps businesses reduce operating costs, enhance on-time performance, and strengthen customer relationships.
Driivz
Funding Round in 2021
Driivz Ltd. develops and markets an innovative electric vehicle (EV) charging management platform, providing a comprehensive solution for managing energy vehicle operations. The platform enables charge point operators and electric mobility service providers to oversee various aspects such as charger management, driver accounts, energy usage, and real-time charger availability. It includes tools for operations management, smart energy management, billing, and EV fleet management, allowing users to monitor performance, analyze trends, and address issues promptly. Driivz's offerings facilitate the creation of pricing structures and tariffs, enhancing operational efficiency and customer experience. Founded in 2012 and based in Tel Aviv, Israel, the company serves a diverse clientele, including industry leaders across the US, Europe, and Asia, managing millions of transactions for over a million EV drivers.
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 logistics technology company that operates a software as a service (SaaS) marketplace for container freight transportation. Founded in 2017 and based in Gothenburg, Sweden, along with offices in Frankfurt, Singapore, and Shanghai, Adnavem connects cargo owners directly with logistics suppliers, facilitating bespoke logistics solutions tailored to clients' needs. The platform offers various delivery options, including door-to-door, port-to-door, port-to-port, and door-to-port services. By enabling direct engagement between transport customers and suppliers, Adnavem enhances control, transparency in market pricing, and service performance. Additionally, the company emphasizes sustainability by providing real-time data and notifications, allowing clients to select environmentally friendly transportation choices and minimize carbon emissions.
AutoTech Ventures
Venture Round in 2019
Autotech Ventures, established in 2013 and based in Menlo Park, California, is a venture capital firm managing over $400 million. It invests in early-stage startups operating in the ground transportation industry, focusing on connected, autonomous, shared, and electrified vehicles, as well as related mobility services. The firm provides portfolio companies with capital, industry connections, market intelligence, talent recruitment support, and fundraising assistance. By bridging the gap between innovative startups and established corporations, Autotech Ventures aims to shape the future of transportation.
Apex.AI
Venture Round in 2019
Apex.AI, Inc. is a software company that focuses on developing solutions for autonomous mobility systems, particularly self-driving vehicles. Founded in 2017 and based in Palo Alto, California, the company offers Apex.OS, a software framework that simplifies the complexity of hardware and software integration through user-friendly APIs. Additionally, Apex.AI provides Apex.Autonomy, which is tailored for safety-critical applications, and MARV.Automotive, a versatile data management platform that facilitates data transfer between vehicles and the cloud. This platform allows for advanced analytics, data introspection, and team collaboration. Apex.AI's software products leverage open-source technologies, enabling developers to create secure and efficient applications for autonomous vehicles.
Upstream
Series B in 2019
Upstream Security is a provider of a cloud-based data management platform specifically designed for connected vehicles, focusing on automotive cybersecurity and data-driven applications. The platform transforms distributed vehicle data into centralized, structured, and contextualized data lakes, enabling customers to create connected vehicle applications. Upstream offers industry-leading cyber threat protection through its AutoThreat® Intelligence, the first dedicated automotive cybersecurity threat intelligence solution, which integrates seamlessly into customer environments and vehicle security operations centers. By leveraging big data and machine learning, the platform delivers real-time visibility on security, privacy, and fraud alerts, helping to safeguard the technologies and applications of connected and autonomous vehicles. Upstream serves a range of prominent automotive OEMs and suppliers, ensuring the protection of millions of vehicles worldwide.
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.
Forciot
Seed Round in 2019
Forciot is a Finnish technology company established in December 2015, focusing on the integration of advanced Internet of Things (IoT) sensor technology into everyday products. The company emerged from a collaboration among leading wearable researchers and consumer electronics experts, driven by a vision to transform wearable technology by embedding measurement capabilities into items like shoes and gloves. This shift aims to eliminate the need for separate performance measurement devices. Forciot develops stretchable electronics and sophisticated algorithms that accurately measure force, weight, balance, and pressure, allowing manufacturers to access valuable data regarding strength and range of motion. By positioning itself as an engineering partner, Forciot supports businesses in creating innovative IoT products that enhance user experience and performance tracking in various applications, particularly in sports and fitness.
FreeWire
Series A 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.
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.
Garantibil
Acquisition in 2017
Garantibil is an online platform that facilitates the buying and selling of new and used cars, focusing on creating a secure environment for transactions. All vehicles listed on the site undergo thorough inspections and test drives conducted by independent evaluators, ensuring their quality and reliability. Each car is valued by a certified appraiser and comes with comprehensive insurance and a two-year warranty for used vehicles. Additionally, Garantibil safeguards the purchase amount until the sale agreement is fully executed, enhancing buyer confidence. This approach aims to protect consumers from dishonest sellers and streamline the process of acquiring used cars.
Luxe
Acquisition in 2017
Luxe is building a logistics platform that will drive the next generation of local real time services, beginning with parking. The free Luxe app, available on iPhone, transforms parking from a necessary evil to a daily highlight. With a veteran team of leaders from Zynga, Tesla, Google, Yahoo and Groupon, a fleet of prescreened, friendly valets, dozens of insured and secure indoor parking lots and a sophisticated technology platform that monitors every step of the process from drop-off to pick-up, Luxe is leading the charge on a new industry of on demand services that addresses a ubiquitous urban challenge: parking.
Peloton Technology
Series B in 2017
Peloton Technology Inc., founded in 2011 and based in Menlo Park, California, develops advanced active safety systems aimed at enhancing the efficiency of trucking fleets. The company employs radar and Dedicated Short-Range Communications (DSRC) to establish vehicle-to-vehicle links between pairs of trucks. This technology allows for the coordination of acceleration and braking while keeping drivers fully engaged and in control of steering. By forming platoons, Peloton's system significantly reduces aerodynamic drag, resulting in fuel savings of over 7% during on-road testing for both the leading and trailing trucks. In addition to improving fuel efficiency, Peloton's solutions help mitigate collision-related expenses, addressing critical issues faced by the trucking industry.
Peloton Technology
Series A in 2015
Peloton Technology Inc., founded in 2011 and based in Menlo Park, California, develops advanced active safety systems aimed at enhancing the efficiency of trucking fleets. The company employs radar and Dedicated Short-Range Communications (DSRC) to establish vehicle-to-vehicle links between pairs of trucks. This technology allows for the coordination of acceleration and braking while keeping drivers fully engaged and in control of steering. By forming platoons, Peloton's system significantly reduces aerodynamic drag, resulting in fuel savings of over 7% during on-road testing for both the leading and trailing trucks. In addition to improving fuel efficiency, Peloton's solutions help mitigate collision-related expenses, addressing critical issues faced by the trucking industry.
Cargomatic
Series A in 2015
Cargomatic, Inc. operates an online platform that connects shippers with pre-screened and qualified carriers in real-time, primarily serving the Southern California region. Established in 2013 and based in Venice, California, Cargomatic has developed a technology-driven network for local truck availability. Shippers can submit loads and quickly find nearby trucks to meet their logistics needs. Since its launch in early 2014, the platform has facilitated tens of thousands of deliveries across California, Chicago, and metropolitan New York. By streamlining the booking process and providing real-time tracking capabilities, Cargomatic enhances service levels, improves pick-up and delivery rates, and allows customers to manage outsourced vendors efficiently. The company operates as a subsidiary of Genesee & Wyoming Inc.
RidePal
Series A in 2013
RidePal operates a network of commuter shuttles designed for companies and the general public, facilitating shared commutes to enhance productivity and efficiency. Based in San Francisco, the venture-backed startup aims to alleviate congestion and reduce greenhouse gas emissions while improving the overall quality of life for commuters. RidePal offers Wi-Fi-enabled bus services specifically tailored for corporate employees and collaborates with businesses to manage their existing transportation solutions. Currently, the company runs over a dozen routes across multiple cities in the Bay Area, providing convenient and sustainable commuting options.
Lytx
Venture Round in 2013
Lytx, Inc. is a provider of video-based driver safety and fleet management solutions aimed at improving operational efficiency and safety for commercial and public sector fleets. Founded in 1998 and headquartered in San Diego, California, the company offers a range of services including the DriveCam system, which focuses on identifying and correcting poor driving behaviors, and the RAIR suite of compliance services that assist carriers with regulatory requirements. Lytx utilizes advanced machine vision and artificial intelligence technology to enhance its offerings, allowing clients to access historical data, optimize current operations, and foster better driver behavior for the future. The company serves a diverse clientele across various industries, including trucking, construction, distribution, and government, both in the United States and internationally.
DataChassi DC AB
Venture Round in 2012
DataChassi Larm specializes in developing advanced wireless alarm systems aimed at protecting the transportation of high-value goods and preventing theft. Utilizing radar-based and infrared sensor technology, their systems are designed to offer comprehensive protection for various assets, including vehicles, buildings, and personal items. The alarm systems are flexible and can be customized to meet specific customer requirements, allowing for easy integration with existing transport information systems. The company has attracted investment from Almi Invest, the West Coast Business Angels, and Volvo Group Venture Capital, highlighting its potential in the market for theft protection solutions.
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, founded in 2008 and based in Gothenburg, is a company focused on developing and distributing fuel cell systems primarily for the transport industry and select high-tech markets. It manufactures environment-friendly electrical power systems designed for various segments, including stationary, marine, off-road, and on-road applications. The company's fuel cell platforms operate using pure or reformed hydrogen gas, generating electricity and heat with only water as a byproduct, thus promoting clean energy solutions. PowerCell also offers services such as consultation, support, modification, and turnkey solutions to assist clients in transitioning to hydrogen electrification. The company predominantly generates its revenue from Norway, reflecting its strong presence in the clean energy sector.
SDC Materials
Venture Round in 2009
SDCmaterials 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 is a Swedish company limited by shares and founded in 2000 by a group of researchers from University of Gothenburg and Chalmers University of Technology. I-Tech’s biocide Selektope® (generic name Medetomidine) has sprung from extensive research on the development of environmentally sound marine paints through a government funded multi-year research project. Several putative biocides were included in this project, but Selektope® distinguished from the others when it was discovered to affect the behaviour of the barnacle larvae so that they would not settle on prepared surfaces. The substance was particularly interesting as the effect can be identified already at nano-molar concentrations. Further development refined Selektope® to a potent, ecologically verified marine biocide for use as an antifoulant in marine bottom paints. The technology holds extensive patent protection for all relevant maritime nations. Selektope® has received regulatory approvals in Japan and Korea and is under registration in Europe and China.
TranSiC
Series B in 2008
TranSiC specializes in the development of bipolar junction transistors made from silicon carbide, focusing on power electronics systems designed for clean technology applications. The company's products are engineered to operate at higher voltages and temperatures, withstanding conditions up to 250°C while minimizing energy losses. TranSiC's transistors provide enhanced efficiency, making them suitable for use in demanding environments such as the oil and gas sector and avionics. Their technology supports various applications, including hybrid vehicles, photovoltaic inverters, power factor correction, and motor drives, catering to industries that require reliable performance under harsh conditions.
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 specializes in the development of bipolar junction transistors made from silicon carbide, focusing on power electronics systems designed for clean technology applications. The company's products are engineered to operate at higher voltages and temperatures, withstanding conditions up to 250°C while minimizing energy losses. TranSiC's transistors provide enhanced efficiency, making them suitable for use in demanding environments such as the oil and gas sector and avionics. Their technology supports various applications, including hybrid vehicles, photovoltaic inverters, power factor correction, and motor drives, catering to industries that require reliable performance under harsh conditions.
Illuminate Labs
Venture Round in 2005
Illuminate Labs, based in Gothenburg, Sweden, specializes in developing and marketing rendering and baking technology specifically for game developers. The company utilizes its proprietary LiquidLight technology to enhance lighting and content creation processes. Its flagship products include Turtle, a sophisticated plug-in for Autodesk Maya that aids in lighting and content creation for next-generation games, and Beast, a versatile tool that operates independently of game engines, facilitating advanced global illumination and dynamic relighting of characters. Illuminate Labs' technology enables clients to achieve faster iterations on creative concepts and produce more realistic in-game lighting.
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