Volvo Car

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.

Adam Albertsson

Associate

Christina Brinck

President

Joe Darcy

Investment Manager

Tina Hultkvist

CFO and Executive Vice President and Member of the Group Executive Board

Charlotta Modig

CFO

Hakan Samuelsson

CEO

Past deals in Automotive

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.

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.

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.

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.

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.

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.

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.

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.
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