Stellantis Ventures, the corporate venture arm of the automaker Stellantis, has invested about one-third of its 300 million euro ($324M) fund into 10 startups that cover various technologies, including battery technology, sustainable manufacturing, and e-bikes. The venture company has not released the names of the companies in which it invested, nor has it disclosed how much money it invested in each startup. Three of the companies that received funding are computer vision firm Nauto, connected e-bike and app startup Beweelsociety, and Trails Offroad. Nauto uses computer vision, software, and data to improve safer driving in commercial fleets. Trails Offroad has created a library of over 3,000 offroad trail guides in the US and Canada, expanding the range of options for Jeeps. Beweelsociety has developed connected e-bikes and an app that offers financing, insurance, maintenance, and anti-theft services for cyclists.
Stellantis Ventures also invested in an unnamed venture capital firm’s mobility fund. The firm’s investment strategy is driven by Stellantis’ Dare Forward 2030 plan, which aims to cut emissions in half by 2030. The automaker will use its 2021 emissions levels as its baseline and sell 100% battery electric passenger cars in Europe by 2030. The firm is interested in both early-stage and more mature growth opportunities that align with its goals.
Adam Bazih, head of Stellantis Ventures, said that one-third of the fund will be invested annually, and the entire 300 million euro fund will be fully vested by 2025 if the timeline holds. The portfolio of investments reflects the company’s ambitious aims, demonstrating its commitment to exploring new technologies and partnerships to create long-term value for its stakeholders.
