SHARE

Volvo Group Invests in AI Company

December 6, 2019
Volvo HX2 autonomous hauler on a site.
Volvo says the investment will fund the development of a safety-certified software framework for autonomous systems.

Volvo Group Venture Capital AB has invested in Apex.AI, a California-based software company specializing in autonomous mobility. The investment will fund the development of a safety-certified software framework for autonomous systems, the company said in a press release.

Apex.AI is building an automotive-grade version of ROS (Robot Operating System), an established open source software framework commonly used in robotics and autonomous systems research. By providing a safer and more reliable version of ROS that will be certified according to the functional safety standard ISO 26262, Apex.AI enables companies to take their autonomous vehicle projects into production.

“We are excited to invest in a company that enables easier development of safety-certified systems,” Anna Westerberg, acting CEO of Volvo Group Venture Capital and SVP Volvo Group Connected Solutions, said in a prepared statement.

Dan Tram, investment director of Volvo Group Venture Capital, said in a statement:

“Apex.AI has a promising product offering with important commercial deployment potential for autonomous systems.”

The role of Volvo Group Venture Capital is to make investments in innovative companies at the forefront of service orientation as well as product differentiation and to support collaboration between startup companies and the Volvo Group.

Source: Volvo Group

expand_less