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John Wang
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Finance
December 6 12:49

Volvo invests in autonomous driving startup

The automaker is looking into driverless APIs
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Volvo is investing in the robotic operating systems startup Apex.AI. The Palo Alto-based company raised US$15.5 million in its series A and is currently focused on developing an enterprise version of the system.
Apex.AI has two available products: Apex.Autonomy and Apex.OS. The first one is providing simple APIs that give the users access to certified autonomous mobility – that is to generally say “driverless” – tech. The second one aims to hone specific components and elements of autonomous tech, which includes path planning, perception, localization and other aspects of robotic driving.
Anna Westerberg - acting CEO of Volvo Group Venture Capital and SVP of Connected Solutions – stated that the Group is “excited to invest in a company that enables easier development of safety-certified systems.”
The particularities of the deal were not disclosed. Volvo Group only said that it “has no significant impact” on the general “earnings or financial position”.