Volvo Venture Capital has invested an unspecified amount in electric vehicle charging software company Driivz

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Volvo Group Venture Capital AB has invested in Driivz Ltd., one of the world’s leading publishers of electric vehicle charging software that has developed a platform for end-to-end management of large electric vehicle charging networks.

The Driivz The platform works as an operating system for electric vehicle (EV) charging networks and is used by charging point operators, EV fleets and other key players in the ecosystem. The platform is scalable and modular, making it very flexible and allowing it to be customized to meet customer needs. The company has a large and growing number of customers in the utilities, oil and gas, automotive and charging network operators sectors, all of whom are leading the way in the rapid adoption of electric transportation.

Erik Johansson, director of investments, Volvo Group Venture Capital said: “There is a significant and growing interest in electric vehicles and machinery among Volvo Group customers, which is accelerating the transition to more sustainable transport. The collaboration with Driivz will play an important role in the Volvo Group’s efforts to help customers electrify their transportation solutions. We are impressed with the company and believe that the Volvo Group can add considerable added value to the development of the company in the future. “

Marcus Anemo, Senior Innovation Manager at Volvo Group Connected Solutions said: “A joint pilot project between Volvo trucks, the Volvo Group and Driivz is underway with the aim of developing and testing new innovative charging services to meet the specific needs of customers and drivers of electric trucks. “The ambition of the Volvo Group is to offer state-of-the-art truck charging services for a seamless charging experience. Working with Driivz allows us to start realizing our ambition ”,

Doron Frenkel, CEO of Driivz said: “We are proud to work with the Volvo Group, which plays a leading role in the electrification of truck fleets. The investment strengthens our confidence in our business model and will be used for geographic expansion and continuous product innovation. “

Volvo Group Venture Capital’s role is to make investments that drive transformation by facilitating the creation of new services and solutions and to support collaborations between start-ups and the Volvo Group.

Against the backdrop of the trends shaping the future of transportation and the strategic priorities of the Volvo Group, Volvo Group Venture Capital’s main areas of investment today are logistics services, site solutions and electrical infrastructure. The organization has a global reach, but currently focuses on Europe and North America.

The transaction has no significant impact on the results or the financial position of the Volvo group.

Driivz was also selected by the Japanese manucippality in November 2019.


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