ComfortDelGro, through its six-month-old US$100 million corporate venture capital fund, ComfortDelGro Ventures, made three strategic investments in transport-related technology startups. These startups cover the areas of on-demand bus technology (SWAT), fleet management (Haulio), and autonomous vehicle safety testing (Foretellix).
SWAT specializes in on-demand bus technology that optimizes vehicle routes, offering the highest utilization rates and service levels. The company has also recently rolled out its services in Sydney via ComfortDelGro’s wholly-owned subsidiary.
Haulio provides on-demand haulage services by making use of IoT (Internet of Things) technology to track their containers. These services help to save cost and time by optimizing their fleet of trucks and drivers. This startup is also incubated by PSA International’s corporate venture capital arm, PSA unboXed.
The third investment is in an Israel-based autonomous vehicle safety testing and compliance tech company, Foretellix. The firm has previously injected US$14 million of fundings into Foretellix’s Series A round that closed in early this year. The startup focuses on developing solutions to bridge the gap between current vehicle testing standards and the new standards for autonomous vehicles, which can be more stringent.
Currently, ComfortDelGro’s investment for Foretellix is being held by VICOM, which is exploring the feasibility of introducing such a service in Singapore and other Asian markets.
Other than startup investments, ComfortDelGro will be involved in innovation sourcing initiatives, as well as incubating new mobility business ideas and technologies with promising entrepreneurs.