Volvo Invests in DriveCam

The Volvo Group has invested in DriveCam, a San Diego-based driver risk-management firm, and will become a minority shareholder in the company, the two said in a joint statement.

DriveCam’s system is designed to improve driver safety by combining data and video analytics with real-time driver feedback and coaching, the statement said. Terms of the deal were not disclosed.

“Volvo Group and DriveCam have a common vision — to reduce traffic accidents worldwide,” said Johan Carlsson, president of Volvo Group Venture Capital, a Volvo Group subsidiary.

Volvo has for decades studied and analyzed data related to truck accidents, and uses that information in the development and design of its trucks, the manufacturer said.

The company, Carlsson added, is focused on “the human element in reducing accidents, an area where DriveCam is a clear leader.”

© 2013, Transport Topics Publishing Group. All rights reserved.

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