Allison Transmission recently announced the launch of Allison Ventures, an arm of the company that will invest in and partner with start-up and growth-stage companies to foster advancements in commercial-duty mobility and work solutions.
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"Allison Ventures will allow us to increase our innovation pipeline in support of industry technology advancement across commercial-duty mobility and work solutions to further our mission to improve the way the world works," says Todd Bradford, vice president of strategy, business and corporate development for Allison.
The company says Allison Ventures will focus on technologies and business model innovations related to connectivity, digitization, automation, sustainability, electrification, manufacturing and operations. Investments are targeted between $1-$5 million, the company says, with provisions for follow-on investment.
