Volvo Group Venture Capital invests in freight marketplace

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Volvo Group Venture Capital invests in freight marketplace

Volvo Group Venture Capital AB has announced today it is investing in Adnavem, an online freight marketplace.

No figures were mentioned in today’s statement. However, the Volvo Group said the transaction has „no significant impact” on its earnings or financial position.

Erik Johansson, Investment Director at Volvo Group Venture Capital, claims that „Adnavem offers innovative services for freight buyers but also better terms for haulage companies”, while adding that the investment comes at a time when the map for the transport industry is being redrawn.

“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.”

At the same time, Adnavem CEO Andreas Wramsmyr said the investment would accelerate the company’s growth and provide a foundation for an „exciting” partnership.

“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.”

Adnavem currently operates in Sweden, China and Singapore. Thanks to the new capital, the company say they will now enter new markets and continue to develop the marketplace with new offerings.


Photo credit: Paolichy

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