San Diego-based DriveCam, the developer of driver monitoring systems for commercial automobile fleets, said this morning that it has received a strategic investment from Volvo Group. Financial details of the investment were not announced. According to DriveCam, Volvo Group Venture Capital made the strategic investment, and becomes a minority shareholder in the company.
Volvo Group said the investment came due to DriveCam's complementary position to its position in the global truck manufacturing market. The companies said that Volvo Group has been studying and analyzing a large number of accidents involving trucks, as part of its design and development efforts.More information »