GOTHENBURG, Sweden, Feb. 27, 2024 /PRNewswire/ -- Volvo Group Venture Capital AB has invested in Zacua Ventures Builders Fund I, L.P. - a global venture capital fund focused on early-stage technology for the construction industry.
Zacua Ventures was established in 2022 and focuses on start-ups working with emerging technologies that address decarbonization in the construction industry. The Zacua fund invests in companies working with at least one of three primary investment themes: productivity, sustainability, and urbanization.
"Zacua Ventures provides us with early access to leading start-ups in the construction industry. Through the co-operation we look forward to connecting with more players at the forefront with innovative solutions that can make the construction industry more efficient and sustainable," says David Hanngren, Investment Director at Volvo Group Venture Capital.
Operating globally in North America, Latin America, Europe, and Asia, Zacua Ventures has access to the latest technology development in each region and its sub-sectors of construction technology, creating possibilities to invest in the most impactful solutions in for example sustainability, robotics and digitization.
"Volvo CE has the ambition to lead the transformation of the construction industry towards more sustainable site solutions and through Zacua Ventures we cover a broader technology portfolio, while also creating relationships to potential partners needed to meet future customer demands and target new value pools", says Carolina Diez Ferrer, Head of Future Solutions at Volvo CE.
Zacua Ventures has gathered several corporate partners, with a total of 19 companies from across the globe with ties to the construction sector and Volvo Group being one of them.
"We are excited to have Volvo Group on board with their large experience and ambitions to decarbonize the construction industry. We believe that our corporate network and the internal team's understanding of both the construction and investment landscapes, makes Zacua Ventures uniquely positioned to act as a bridge between startups and corporate investors, unlocking new possibilities for collaboration and growth," says Juan Nieto, Founding Partner at Zacua Ventures.
Volvo Group Venture Capital was founded in 1997 and invests globally in venture companies. The aim is to drive transformation by facilitating the creation of new services and solutions and to support collaborations between start-ups and the Volvo Group. The market trends shaping the future of transportation and infrastructure solutions and the strategic priorities of the Volvo Group define the investment focus areas: Logistics Services, Site Solutions, Electrification, and Sustainability.
The transaction has no significant impact on the Volvo Group's earnings or financial position.
February 27 th, 2024
Journalists wanting further information, please contact:
Claes Eliasson, Head of Media Relations
+46 73 553 7229
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The Volvo Group drives prosperity through transport and infrastructure solutions, offering trucks, buses, construction equipment, power solutions for marine and industrial applications, financing and services that increase our customers' uptime and productivity. Founded in 1927, the Volvo Group is committed to shaping the future landscape of sustainable transport and infrastructure solutions. The Volvo Group is headquartered in Gothenburg, Sweden, employs more than 100,000 people and serves customers in almost 190 markets. In 2023, net sales amounted to SEK 553 billion (EUR 48 billion). Volvo shares are listed on Nasdaq Stockholm.
The following files are available for download:
https://mb.cision.com/Main/39/3936820/2632729.pdf | Volvo Group Venture Capital invests in Zacua Ventures |
https://news.cision.com/ab-volvo/i/240227-ab-volvo-zacua-ventures,c3272126 | 240227-ab-volvo-zacua-ventures |
SOURCE AB Volvo
