Ryder Launches $50MM Corporate Venture Capital Fund
OCT 30, 2020 - 8:04 am
Ryder launched RyderVentures, a new corporate venture capital fund to invest in and partner with startup companies that are developing new technologies and business models that deliver advancements and automation in the logistics and transportation industries.
The new fund is targeting $50 million in investments over the next five years and will focus on startup companies that are tackling disruptions in the supply chain, driven by accelerating demand for e-commerce fulfillment, asset sharing, next-generation vehicles, automation and data analytics.
“Ryder has a strong history in leveraging emerging technologies that help make our business and, ultimately, our customers’ businesses better and more competitive,” Karen Jones, chief marketing officer and executive vice president of new product innovation at Ryder, said. “With RyderVentures, our goal is to identify earlier in the process those new technologies that address our customers’ pain points and work alongside the startups developing them to speed the solutions to market. We’re looking for innovative technologies from startups with strong growth potential but need the expertise of an industry leader with the depth and breadth of experience that comes with nearly 90 years in logistics.”
Ryder has more than 50,000 customers and relationships with multiple original equipment manufacturers and also has startup experience through its COOP by Ryder startup, a peer-to-peer commercial truck sharing platform. Ryder also has partnered with several technology startups to develop its RyderShare product, a real-time visibility and collaboration platform for the supply chain. In addition, the company has worked with other players in the areas of electric and autonomous vehicles, charging infrastructure and smart warehousing.
“With their decades of expertise and engaged executive mentorship, Ryder knows how to help startups maximize potential,” Farzin Shadpour, vice president at Plug and Play, an innovation platform that brings together startups and corporations, said. “We’ve been working with Ryder since 2017 to accelerate the development of some of the greatest emerging technologies. They’ve been an invaluable partner.”
In addition to working with startups and accelerators, Ryder will continue to collaborate with venture capital funds focused on delivering advancements in logistics and transportation.
“Ryder has been extremely helpful in Autotech’s diligence of ground transport startups,” Quin Garcia, managing director at Autotech Ventures, an early stage venture capital firm focused on innovation in ground transportation, said. “We’re excited that they are ready to take the next step with their own corporate venture capital arm, where making direct investments will allow Ryder to further align incentives with startups while continuing our partnership to combine Ryder’s scale with innovative startups to advance the future of mobility.”
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