Volvo Group Venture Capital AB has invested in Apex.AI, a Palo Alto-based software company in autonomous mobility. The investment will fund the development of a safety-certified software framework for autonomous systems.
Founded by automated systems engineers Jan Becker and Dejan Pangercic, Apex.AI is building an automotive-grade version of Robot Operating System (ROS). This open source software framework is 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 is said to enable companies to take their autonomous vehicle projects into production.
In November 2018, Apex.AI raised $15.5 million in Series A round led by Canaan with participation from Lightspeed Venture Partners.
Based on the trends shaping the future of transportation and Volvo Group strategic priorities Volvo Group Venture Capital focus investment areas are today Autonomous Solutions, Connected Services and Electromobility. The scope is global with a focus on Europe and North America.
The company also clarified that the transaction has no significant impact on the Volvo Group’s earnings or financial position. However, the financial details of the investment haven’t been disclosed yet.