MILAN — Premium brake maker Brembo has created an internal venture capital unit, called Brembo Ventures, to accelerate the development of technological solutions for application in the automotive industry.
The Italian group’s move mirrors similar initiatives by other companies, including Stellantis and CNH Industrial, with the common goal of driving innovation in a rapidly changing environment as the automotive industry moves towards electrification and autonomous driving. .
A spokesperson for the group said Brembo Ventures was a unit and not a real venture capital fund with an initial financial endowment.
Investments and funds needed will be assessed as opportunities arise, the spokesperson added.
Brembo Ventures will invest in startups around the world, focusing on artificial intelligence, big data, sensors, mechatronics, energy efficiency and sustainability, it said in a statement.
“With Brembo Ventures, we are even more structured to seize market opportunities that can contribute to our goal of redefining the future of braking systems and mobility,” said Roberto Grazioli, Brembo Business Development Director.
Brembo Ventures’ portfolio already includes a recently acquired 6.8% stake in PhotonPath, a company developing integrated photonics products, and a 20% stake in integrated photonics systems company Infibra Technologies which the brake maker bought in 2020.