SOUTHFIELD—Tier 1 auto supplier Lear Corp. announced an undisclosed investment in Menlo Park, Calif.-based Autotech Ventures to support startups developing new mobility technologies.
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 are largely focused on software, services and electronics startup companies working to enable connected, autonomous, energy-efficient vehicles and services. LIV and Autotech Ventures will work together to enable future collaboration and this investment 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,” said John Absmeier, Lear Chief Technology Officer. “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.
More at www.lear.com.
This story was published in Technology Century.