Volvo Group Venture Capital AB has invested in Driivz Ltd., a global EV charging software company, which has developed a platform for managing large charging networks for electric vehicles from end-to-end. The Driivz platform is used by the operators of charging points, EV fleets and other key players in the ecosystem.
A joint pilot project, between Volvo Trucks, the Volvo Group and Tel Aviv-based Driivz, is ongoing with the aim of developing and testing new and innovative charging services to meet the specific needs of electric truck customers and drivers.
Doron Frenkel, CEO of Driivz, says: “We’re proud to be working with the Volvo Group, which is playing a leading role in the electrification of truck fleets,”. The investment reinforces our belief in our business model and will be used for geographic expansion and continuous product innovation.”
Erik Johansson, Investment Director, Volvo Group Venture Capital, adds: “There is a significant and growing interest in electric vehicles and machines among Volvo Group customers, which is speeding up the transition to more sustainable transport. The collaboration with Driivz will play an important role in the Volvo Group’s efforts to help customers to electrify their transport solutions. We are impressed by the company and we believe the Volvo Group can add considerable value to the development of the business in the future.”
“The Volvo Group ambition is to offer state-of-the-art truck charging services for a seamless charging experience. Working with Driivz enables us to begin putting our ambition into effect,” comments Marcus Anemo, Senior Innovation Manager at Volvo Group Connected Solutions.
The key areas of investment for Volvo Group Venture Capital are currently logistics services, site solutions and electrical infrastructure. The organisation has a global scope, but currently focuses on Europe and North America.