Volvo Group Venture Capital
Gothenburg, SwedenFounded 1997
Volvo Group Venture Capital is the corporate venture capital arm of the Volvo Group, making venture capital and growth equity investments in entrepreneurs with the vision and skill to disrupt the transportation sector. It focuses on scalable solutions that drive transformation toward more sustainable transportation and infrastructure across four key areas: electrification, logistics services, site solutions, and climate tech.
32% of their portfolio is in AI. Deal activity decreased year-over-year (1 deal in the last 12 months vs 2 prior). Average disclosed round size is $79.5M (across 20 rounds with reported amounts).
Portfolio
14
Fund Size
—
Top Stage
Series B
Last 12 Mo
1
Team
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
DealsAvg Round Size
Portfolio
22 investments
| Company | Round | Amount | Date |
|---|---|---|---|
 Waabi | Series C | $750M | Jan 2026 |
 AIFleet | Unknown | — | Sep 2024 |
 aifleet | Series B | $17M | Sep 2024 |
| Waabi | Series B | $200M | Jun 2024 |
| aifleet | Series B | $16.6M | Jan 2024 |
 Alt Drx | Seed | $3.6M | Mar 2023 |
 Foretellix Ltd | Series B | $32M | Jan 2023 |
 Varjo Technologies | Series D | $40M | Sep 2022 |
 Apex.AI | Series B | $56.5M | Dec 2021 |
 Upstream | Series C | $62M | Aug 2021 |
 Upstream Security | Series C | $62M | Jan 2021 |
 Librestream | Series D | $24M | Jun 2020 |
 Flock Freight | Series C | $50M | Feb 2020 |
| Apex.AI | Series A | $15.5M | Nov 2019 |
| Upstream Security | Series A | $9M | Oct 2019 |
| Upstream Security | Series B | $30M | Oct 2019 |
 Luminar | Unknown | — | Jun 2018 |
 Peloton Technology | Series B | $60M | Dec 2017 |
| Peloton Technology | Series B | $60M | Jan 2017 |
 Cargomatic | Seed | $8M | Jan 2015 |
| Peloton Technology | Series A | $16M | Jan 2015 |
| Peloton Technology | Series C | $78M | — |
Top Co-Investors
Nationwide5 shared
Glilot Capital Partners4 shared
Intel Capital4 shared
Sand Hill Angels4 shared
Export Development Canada3 shared
Lightspeed Venture Partners3 shared
bp ventures3 shared
Cisco Investments3 shared
Birchmere Ventures3 shared
Band of Angels3 shared
G2 Venture Partners2 shared
Incharge Capital Partners2 shared
Radical Ventures2 shared
NVentures2 shared
Khosla Ventures2 shared
Uber Investments2 shared
Uber2 shared
Porsche Automobil Holding SE2 shared
HarbourVest Partners2 shared
Last updated: 7 October 2026