
Volvo Group Venture Capital
Gropegårdsgatan 2, Göteborg, Vaestra Gotaland, 417 15, Sweden
Overview
Volvo Group Venture Capital is a corporate investment company making venture capital and growth equity investments. Their mission is to drive new business growth and their ambition is to be a leading corporate investor in sustainable transport and infrastructure solutions. Their value proposition to the companies we invest in, other investors as well as to our Volvo colleagues, is to accelerate growth.
- Total investments
- 15
- Lead investments
- 2
- Investments · 12mo
- 1
- Active investors
- 2
Sector focus
- Finance
- Venture Capital
Investment portfolio
- Waabi
Participated · Series C · Jan 2026
Waabi builds a Physical AI platform that couples a verifiable, end-to-end AI model with an advanced neural simulator, allowing one shared ‘brain’ to control both autonomous long-haul trucks and urban robotaxis. The technology is designed to reason about the physical world and speed safe deployment of self-driving vehicles. With its latest financing, the company is focusing on accelerating commercial rollout in autonomous trucking while preparing a push into ride-hailing robotaxis through a new partnership with Uber. Waabi intends to run its robotaxi service exclusively on Uber’s platform, leveraging the additional milestone-based capital committed by Uber. The firm positions its simulator as a key competitive advantage, enabling rapid AI training and validation without excessive on-road testing. Financially, Waabi has now secured up to $1 billion USD of fresh capital, including a $750 million Series C round and contingent follow-on funding from Uber. This infusion provides significant runway to scale its engineering team, expand pilot programs, and advance toward full-scale commercialization.
- Aifleet
Participated · Series B · Sep 2024
Aifleet provides a proprietary AI algorithm and technology suite for trucking operations, including dynamic pricing tools, a modernized in-house TMS, real-time tracking, and driver-centric scheduling. The company manages 20 quintillion permutations per truck per week, which it says equates to 250K loads per week and $20 billion in orders per year. Aifleet plans to use new capital to expand technology research and development, grow its operations team to support the fleet at scale, expand its sales organization, and further develop scalable infrastructure and processes. Leadership is headed by CEO Marc El Khoury and the company is based in Austin, TX. The firm also intends to bring AI-adjacent use cases to the industry and, in the future, operationalize electric and autonomous technologies. The business appears focused on scaling both its technical platform and operational capabilities to support larger volumes and more complex routing and pricing scenarios.
- Foretellix
Participated · Series C · Dec 2023
Foretellix provides safety-driven verification and validation (V&V) solutions for automated driving systems and advanced driver assistance systems. Its Foretify™ platform unifies real-world test drives and virtual simulation into a single V&V flow to help development, testing, and safety engineers collaborate across AV and ADAS projects. The platform is used by customers in automotive, trucking, and mining to ensure safety, reduce development costs, and accelerate time-to-market. The company says it will use the new funding to accelerate development of its expanding product portfolio and address global demand for its solutions. Foretellix is led by CEO Ziv Binyamini and is headquartered in Tel Aviv, Israel, with offices in the US, Europe, and Asia. Financial operating metrics were not disclosed in the article. Foretellix offers a platform that automates testing, verification and validation for ADAS and autonomous driving systems. The company applies a quantifiable approach to safety and hyper‑automation to generate and test broad scenario sets, and uses big‑data analytics to ensure testing completeness. Its platform is used across the development cycle from requirements through product development, verification and validation. Foretellix is commercially engaged with dozens of major automotive firms, including Volvo Group and DENSO Corporation. In January 2021 the company raised $32M in a Series B round to support expansion. The proceeds will be used to accelerate adoption of its platform and products. Foretellix provides coverage-driven verification solutions designed to ensure autonomous vehicles behave properly across hundreds of millions of critical driving scenarios. Its system automates extraction and analytics of safety-related coverage metrics, representing the percentage of scenarios proven to work across a wide range of situations and conditions. Those metrics are intended for developers, consumers, suppliers, insurance companies and regulators. The solution integrates with simulators, X-in-the-loop configurations, test tracks and test vehicles. Led by CEO Ziv Binyamini, the company plans to use the new funding to accelerate development, customer programs and deployment of its coverage-driven verification platform. Financially, Foretellix raised a $14M Series A and has now raised over $16M to date.
- Trucksters
Led · Series B · Jun 2023
Trucksters operates a relay-based long‑haul trucking service that keeps trucks continuously moving by swapping semitrailers at relay points, reducing transit times and allowing drivers to return home more often. The company has delivered airline-like efficiency across four corridors, including links from Spain to Dortmund, Benelux/West Germany, Poland, and a Barcelona/Northern Spain–UK route that cuts transit time by roughly 50%. In 2022 Trucksters moved more than 600 fully loaded trucks and executed nearly 2,000 relays; its platform is used by over 600 customers, including Samsung, Bosch, LG, DHL and Nestlé. Founded in 2018 and based in Madrid, Trucksters has raised €54 million across three funding rounds. The newly announced €33 million Series B will help the company electrify its routes and aim to become one of Europe’s first electric long‑haul operators. Management and investors highlight electrification as a strategic priority and see relay systems as enabling future safety, electrification and autonomous solutions. Trucksters is a Madrid-based fleet management startup that operates a relay system platform for long-haul trucking. Its platform is used by over 600 Spanish and international companies, including Kimberly Clark, the DPD Group, Amazon and SEUR. Currently present in Germany, Belgium and Poland, the company plans to expand operations into the Netherlands and Italy this year. Trucksters says it aims to improve drivers' living conditions and enable earlier payment for rides as part of making logistics more sustainable and humane. Financially, the company closed its Series A at €14.3 million after an €8 million extension to the initial €6.3 million tranche raised in July 2021. The new funding will be used to triple its technology team and continue international expansion. By 2022 the platform plans to increase turnover sixfold to €30 million. Trucksters is a freight transport operator that provides long-distance full-truckload (FTL) service using an innovative truck relay system powered by big data and artificial intelligence. Its relay model keeps trucks continuously on the move, reducing long-distance road transit time by up to 50%. The company, founded in 2018 and headquartered in Madrid, operates from Madrid and Valencia and has presence in the Netherlands, Belgium and Greece, running three major corridors connecting Spain, Germany, France, Benelux and Poland. Trucksters is used by more than 500 clients and plans to expand internationally into Benelux, Germany and Poland, offering a wider range of routes. It intends to use the €6.3M Series A to grow the team and open new offices in Galicia and Dortmund, Germany. Trucksters offers a relay-based long‑haul trucking service that uses AI and Big Data to coordinate driver, truck and cargo handoffs so trucks stay continuously moving and delivery times can be cut by up to 50%. The system staggers 4.5‑hour driving shifts and swaps trailers to allow drivers to sleep at home, improving working conditions while lowering transit times and costs versus traditional services. The company reported monthly growth of about 40% during the year and already serves customers such as Grupo Seur, ALPI, Kimberly‑Clark, Lesaffre, Campofrío and Bofrost. Trucksters plans to consolidate two international corridors (the Mediterranean and the Central corridor) and then expand gradually into Poland and other central and eastern European markets. The new funding will also be used to invest further in technology to add more intelligence to the relay system. The Valley Venture Capital will additionally provide operational expertise and access to its digital ecosystem alongside the financial support. Trucksters develops a platform to coordinate long‑distance freight using Artificial Intelligence and Big Data to optimize transport. Its operating model uses relay driving—a driver drives ~4.5 hours, then the load is transferred so drivers can return home—reducing time away from home for professional drivers. The company says it will invest recent funds entirely in technology to continue developing its coordination platform. Trucksters captured €250,000 through the Programa Neotec promoted by the CDTI. Prior to this award it had raised more than €900,000 in venture rounds led by Big Sur Ventures and Metavallon VC. Other backers named in the articles include Porsche, Axel Springer (APX), Grupo Undanet, Grupo Andrés and corporate investors Mario Vicente, Carlos Severino, Sacha Michaud and Telmo Pérez. The company operates in the transportation sector and is based in Spain.
- Apex.AI
Participated · Series B · Dec 2021
Apex.AI builds Apex.OS, a scalable operating system and SDK that lets OEMs implement complex AI and autonomous driving functionality across vehicles and robots. Its platform is positioned as analogous to Apple’s iOS SDK for vehicle software, intended to shorten development cycles for customers. Apex.OS has earned high safety certifications, including TÜV Nord product certification and ISO 26262 ASIL‑D. The company has attracted strategic OEM partners and investors, including a partnership with Toyota’s Woven Planet. Apex.AI is based in Palo Alto, CA, and targets safety‑critical automotive applications. Financially, the company accrued over $56 million in Series B funding as of last December and continues to draw OEM investments. Apex.ai develops safety-certified software tooling for automakers and other mobility customers, notably an ISO 26262–certified software development kit called Apex.OS for autonomous driving and safety-critical applications. The company also offers Apex.middleware, an enterprise middleware product that integrates protocols to improve communication between software applications. Apex.ai was founded by Bosch veterans Jan Becker and Dejan Pangercic and maintains offices in Palo Alto, Berlin, Stuttgart and Munich. The team recently secured TÜV NORD certification for Apex.OS at the highest ISO 26262 functional safety level, enabling use in production vehicles. Financially, Apex.ai has raised $74 million to date and plans to commercialize its existing products while developing new offerings for adjacent markets such as agriculture, mining, industrial automation and IoT. The company intends to double its workforce from about 70 to roughly 140 by the end of next year and to expand into Asia under the leadership of former Panasonic executive Tavis Szeto. Apex.AI is a Palo Alto-based startup founded by automated systems engineers Jan Becker and Dejan Pangercic that is building a robotic operating system qualified for use in production automobiles. The company focuses on an enterprise-focused version of the Robot Operating System open-source middleware. It lists two products, Apex.OS — providing simple-to-integrate APIs to give automakers access to fully certified autonomous mobility technology — and Apex.Autonomy, which supplies specific autonomy components such as perception, localization and path planning. Apex.AI positions its technology to help speed the process of getting autonomous driving systems into production vehicles across commercial and consumer offerings by enabling easier development of safety-certified systems, per Volvo Group Venture Capital's comments. Last November the two-year-old startup raised $15.5 million in a Series A. Volvo Group Venture Capital has made an investment via Volvo's VC arm; financial details were not disclosed and Volvo said the investment "has no significant impact" on its earnings or financial position. Apex.AI develops an enterprise-grade operating system for autonomous vehicles designed to never fail. Its software stack is positioned as an enterprise version of the Robot Operating System (ROS) and is built to integrate into existing systems. The company has engineered redundancies and schedules compute to guarantee safety-critical processes receive required execution time. Apex.AI is application-agnostic and targets a range of autonomous mobility platforms, including cars, drones, and flying taxis. The founders emphasize moving beyond R&D toward mass production as autonomy scales. Financially, the company emerged from stealth while announcing a new financing round to support these efforts.