Volvo Group and JLR's venture capital arm invests in Apex.AI
New Delhi: Volvo Group Venture Capital has announced the investment in Apex.AI, a software company that develops autonomous mobility technology.
The company has invested in the software firm alongside InMotion Ventures, which is Jaguar Land Rover’s venture capital arm.
The software company is currently working on Apex.OS, an automotive-grade version of ROS, which will launch to the market in early 2020.
The company has received funding from Hella Ventures as well, informs a release. Apart from that, other investors include Lightspeed Venture Partners, Canaan Partners, Toyota AI Ventures and Airbus Ventures.
Founded in June 2017, the Apex.AI is working to build a safe and certified version of ROS (Robot Operating System), which is currently the de-facto standard in robotics and autonomous systems research, claims the company.
Commenting on this new funding, Jan Becker, CEO and Co-Founder, Apex.AI, said, “It’s a testament to our work to have InMotion Ventures invest in our company. We founded Apex.AI on the premise of developing technology that can launch into products within three years to make mobility safer and more reliable.”
Becker also said, “InMotion’s strategic investment will accelerate the development of Apex.OS, enabling Apex.AI’s customers to meet aggressive timelines in taking R&D projects into certified products.”