Volvo Group Venture Capital has invested in Apex.AI, a developer of software for autonomous cars and mobility.
Volvo says the investment will fund the development of a “safety-certified software framework for autonomous systems”.
Apex, a Palo Alto, California-based company founded in 2017, is building an automotive-grade version of Robot Operating System, an established open source software framework commonly used in robotics and autonomous systems research.
Apex says it provides a safer and more reliable version of ROS that will be certified according to the functional safety standard ISO 26262, adding that this enables companies to take their autonomous vehicle projects into production.
Anna Westerberg, acting CEO of Volvo Group Venture Capital and SVP Volvo Group Connected Solutions, says: “We are excited to invest in a company that enables easier development of safety-certified systems.”
Dan Tram, the Silicon Valley-based investment director of Volvo Group Venture Capital, says: “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.
Volvo Group Venture Capital says that, based on the trends shaping the future of transportation and Volvo Group strategic priorities, its investment areas are:
- autonomous solutions;
- connected services; and