"Volvo Cars, the premium car maker, has launched a new investment fund aimed at investing in high-potential technology start-ups around the globe.

The aim of the Volvo Cars Tech Fund is to invest in strategic technology trends that are transforming the industry, such as artificial intelligence, electrification, autonomous driving and digital mobility services.

The first strategic investment as part of the Tech Fund is a seed round investment into a California-based technology firm developing advanced sensors, underlining Volvo Cars’ growing presence in the technology hub of Silicon Valley.

Companies will benefit from participation in the Volvo Cars Tech Fund in a number of ways. Apart from the association with one of the world’s leading premium car makers, start-ups may gain the ability to validate their technologies and accelerate the pace of achieving product market fit."

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