(PRESS RELEASE) GOTHENBURG, 5-Dec-2019 — /EuropaWire/ — Volvo Group Venture Capital AB invested in a leading software company in autonomous mobility. The investment in Apex.AI will support the advancement of a safety-certified software framework for autonomous systems.
Apex.AI is based Palo Alto, California, it was founded in 2017. The company is creating an automotive-grade version of an established open source software framework commonly used in robotics and autonomous systems research, called ROS (Robot Operating System). Apex.AI will enable companies to take their autonomous vehicle projects into production by providing a safer and more reliable version of ROS that will be certified according to the functional safety standard ISO 26262.
Anna Westerberg, acting CEO of Volvo Group Venture Capital and SVP Volvo Group Connected Solutions commented: “We are excited to invest in a company that enables easier development of safety-certified systems.”
Dan Tram, Investment Director of Volvo Group Venture Capital, based in Silicon Valley added: “Apex.AI has a promising product offering with important commercial deployment potential for autonomous systems.”
Volvo Group Venture Capital aims to invest in innovative companies at the forefront of service orientation as well as product differentiation and to give assistance to partnership between startup companies and the Volvo Group.
Currently Volvo Group Venture Capital investment focus is on Autonomous Solutions, Connected Services and Electromobility, which are based on the trends shaping the future of transportation and Volvo Group strategic priorities. While its investment scope is global its main focus is on Europe and North America.
The transaction has no outstanding effect on the Volvo Group’s earnings or financial position.
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SOURCE: Volvo Group