Volvo recently invested in Apex.AI, which is a vehicle operating system company located in Palo Alto. No details of the investment were made public, however, Volvo stated the investment would not result in drastic changes to the vehicle operating system company.
The investment was officially made through Volvo's Venture Capital branch and it could help Volvo develop autonomous driving systems. Anna Westerberg, the CEO of Volvo Group Venture Capital, spoke about the investment, saying that she's "excited to invest in a company that enables easier development of safety-certified systems.”
For Apex.AI an investment from a leading auto manufacturer could have significant benefits. The company is only two years old and the investment could allow it to further develop its products.
Image Credit: Apex.AI