Subject: CON
Volvo Group Venture Capital invests in new marketplace for freight
GÖTEBORG, Sweden, Nov. 17, 2020 /PRNewswire/ -- Volvo Group Venture Capital AB has invested in Adnavem, an online marketplace for freight services. Adnavem offers unbundled door-to-door transport with a present focus on Asia and Northern Europe.
Adnavem, which was founded in 2017 and is based in Gothenburg in Sweden, is disrupting the transport and logistics industry by providing an unbundled service offer where transport buyers can choose the service providers for each part of the logistics chain themselves.
"Nowadays the unbundling of services is a strong trend in many industries and this trend is also redrawing the map for the transport industry. Adnavem offers innovative services for freight buyers but also better terms for haulage companies, which is very important for us. We share the clear goal of making transport more efficient and therefore more environmentally friendly with the help of technology," says Erik Johansson, Investment Director at Volvo Group Venture Capital.
"We are set to change the multimodal transport industry. The investment from Volvo Group Venture Capital will help accelerate our growth and lay the foundation for an exciting partnership. By digitalising and automating the freight process, we can help transport buyers to find the best transport chains and strike a good balance between price, speed and environmental impact," says Andreas Wramsmyr, founder and CEO of Adnavem.
The role of Volvo Group Venture Capital is to make investments that drive transformation by facilitating the creation of new services and solutions and to support collaborations between start-ups and the Volvo Group.
Against the background of the trends shaping the future of transportation and the strategic priorities of the Volvo Group, 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 focuses on Europe and North America.
The transaction has no significant impact on the Volvo Group's earnings or financial position.
Journalists wanting further information, please contact
Claes Eliasson, Volvo Group Media Relations, +46 76 553 72 29
For more information, please visit volvogroup.com/venturecapital
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 almost 100.000 people and serves customers in more than 190 markets. In 2019, net sales amounted to about SEK 432 billion (EUR 40.5 billion). Volvo shares are listed on Nasdaq Stockholm.
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SOURCE AB Volvo
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