Iochpe-Maxion Invests US$ 5.5 Million in a Venture Capital Fund Focused on Mobility
Sao Paulo, Brazil, February 10, 2022 –
Iochpe-Maxion announces an investment of US$ 5.5 million in Autotech Ventures LLC, a venture capital firm based in USA.
With this investment, Maxion joins Autotech Fund III as a Limited Partner. The investment aims to foster the development of new startups and research in the automotive segment with a focus on connectivity, autonomous vehicles, shared vehicles, electrification, and digitalization.
“We are focused on developing solutions that would help our customers, whether traditional automakers or new players in the sector, to build more sustainable urban mobility. Investing with Autotech Ventures will connect us to hundreds of startups and initiatives which could be incorporated into our business strategy,” says Marcos de Oliveira, President and CEO of Iochpe-Maxion.
This is not a one-off initiative by the company, which operates an innovation hub, Maxion Advanced Technologies, in Berlin, inside of The Drivery, Europe's largest mobility innovation community and marketplace. Moreover, Maxion’s venturing outlook is ongoing and the company is continuing to assess similar opportunities around the world.
“Being present and active in the ecosystems that bring together startups, technology providers and companies developing innovative solutions for the future of mobility is an important aspect of our strategy to connect current businesses to the future,” concludes Marcos.
Autotech Ventures is an early-stage venture capital firm with more than $400M under management to date and a mission to solve the world’s ground transport challenges with technology, realizing the next frontier in mobility. Autotech bridges the gap between transportation startups and investors that seek exposure to these companies. It provides startups with capital to grow, hands-on experience in the transportation industry, and access to strategic corporate partners.
About Maxion Advanced Technologies (MAT)
Opened in 2019, MAT is the "eyes on the future" for the company. The initiative aims to think beyond the day-to-day operational challenges and connect the current business with the future of mobility.
From the beginning, MAT has been connecting with talented new companies and external partners to discuss important topics such as advanced materials, traceability, mobility form factors, circular economy, AI, additive manufacturing and much more. Through this interaction, the company connects with the global innovation environment, collaborates with the next generation of technology, and create business value by learning, cultivating, and growing with the new mobility ecosystem in Berlin and beyond.
Iochpe-Maxion is a world leader in the production of automotive wheels and a leading producer of automotive structural components in the Americas. The Company has 32 manufacturing plants located in 14 countries and approximately 17,000 employees, operating its business through two divisions: Maxion Wheels and Maxion Structural Components. Iochpe-Maxion, keen to capitalize on new growth opportunities while also remaining relevant to its customers, launched Maxion Advanced Technologies (MAT), a stand-alone organization responsible for participating in the global new-mobility innovation ecosystem in search of adjacent and disruptive automotive-related new business opportunities. To effectively participate in the dynamic future mobility arena, MAT targets new products, processes and business models relating to advanced materials and digitalization.