Fouriertransform invest in Pelagicore AB
Fouriertransform invest 20 MSEK in Pelagicore AB, a technology and product development company with focus on Open Source software applications in the automotive infotainment industry.
The investment will make Fouriertransform the largest minority owner. The invested funds will be used to continue the expansion towards the automotive industry and strengthen the company’s market position as one of the globally leading suppliers of Open Source based solution for the In-vehicle infotainment industry.
— Open Source is still a new but fast growing technology in automotive electronics, particularly within In-vehicle infotainment. Pelagicore has, through its deep competence in Open Source, such as GNU/Linux, established itself as supplier for instance in the BMW-initiated consortium GENIVI. Our investment will support Pelagicore to continue build the company into a competitive, global, player, says Per Nordberg, CEO of Fouriertransform.
Pelagicore AB was founded in 2009 and develops and licenses software which brings down the costs and timeframe of In-vehicle infotainment development. Pelagicore’s customer base consists mainly of car manufacturers and their suppliers.
The IVI industry is growing at an exceptional rate and according to In-Stat Research, over 35 million in-vehicle infotainment systems are expected to be delivered in 2015, as automotive manufacturers seek competitive advantages. Pelagicore is situated in Gothenburg, Sweden, and has 10 employees.
— Pelagicore has a unique, global market position as a supplier of software platforms to the world’s leading car manufacturers. Together with Fouriertranform we will be able to expand our product portfolio further and strengthen our competiveness through our international Eco System of partners, says Anders Björkenbo, CEO for Pelagicore.
For further information:
CEO Pelagicore AB
tel +46 735 000 063
Investment Advisor Fouriertransform AB
tel +46 8 410 40 604
Fouriertransform is a state-owned venture capital company with the task, to on a commercial basis, strengthen the international competitiveness of the Swedish automotive cluster. The company has a total investment framework of SEK 3 billion and, in addition to providing capital, its well-qualified employees and network of experts contributes their own expertise.