Volvo is making an investment in Palo Alto-based Apex.AI, a startup working on developing a robotic operating system qualified for use in production automobiles.
Apex.AI, founded by automated systems engineers Jan Becker and Dejan Pangercic, raised $15.5 million in a Series A last November, and revealed that its focus is on developing an enterprise-focused version of the Robot Operating System open-source middleware.
Apex.AI currently lists two products on its home page: Apex.OS and Apex.Autonomy.
The financial details of the investment were not disclosed, with publicly traded Volvo Group saying only that it “has no significant impact” on the overall company’s “earnings or financial position,” which doesn’t mean much, except that it’s not material enough to require a detailed disclosure just now.
That still could mean a lot of money coming in for Apex.AI, given the relative yardstick of “material” for a huge multinational automaker, and a two-year-old Silicon Valley startup. | To read full story, visit https://startuparound.com/read/1575570712.36444/Volvo-invests-in-autonomous-vehicle-operating-system-startup-Apex.AI-though-its-VC-arm-–-TechCrunch?ref=audio_experience