Lear Corp., a global automotive technology company based in Southfield, says it has invested in Silicon Valley-based venture capital firm Autotech Ventures to support startups in deploying revolutionary mobility technologies. Financial details were not disclosed.
The investment is being made through Lear Innovation Ventures, which was launched a year ago to identify advanced development teams and early stage technologies and provide direct capital to innovation initiatives.
Autotech Ventures’ portfolio and investing activities largely are focused on software, services, and electronics startup companies working to enable connected, autonomous, energy-efficient vehicles, and services. LIV and Autotech Ventures, Lear says, will work together to enable future collaboration. This investment also expands Lear’s involvement and commitment in the mobility technology ecosystem.
“With Autotech Ventures’ deep industry network and focus on identifying emerging trends in the automotive market, this is an excellent opportunity for LIV,” says John Absmeier, chief technology officer for Lear. “As consumer demand increases for intelligent mobility and experience-enabling technologies, we are focused on making every drive better through strategic investment and purpose-driven innovation.”
Since its inception in 2019, LIV has announced multiple initiatives and projects, including an investment in an Israel-based venture capital fund managed by Maniv Mobility, and entered into partnerships with global accelerator Techstars and Silicon Valley innovation platform Plug and Play.
Written by Tim Keenan for dBusiness magazine.