Stoneridge looks to accelerates technology development through USD10m investment in Autotech Ventures' Fund
By Heather Rose - 31st January 2019
USA - Stoneridge Inc of Novi, Michigan, USA has announced it is to invest in a fund managed by Autotech Ventures (Autotech), a venture capital firm focused on ground transportation technology, located in Menlo Park, California. Some USD10m is to be contributed over the expected 10-year life of the fund. Stoneridge expectations are this will provide it with increased visibility to early-stage companies.
Laurent Borne, Chief Technology Officer for Stoneridge, commented: "We are excited to announce our partnership with Autotech and our investment in their next fund. We believe that a presence in Silicon Valley will help us identify and invest in opportunities that will drive the future of ground transportation. We look forward to working with the Autotech team and their current and future portfolio companies to accelerate our innovation pipeline, build on our existing portfolio and continue to refine our product roadmap to align with industry megatrends."
