Volvo Invests In Ride Sharing Service Zum



Volvo Cars is getting involved in providing safe and reliable transportation for children. Zum is a ride sharing service based in California and is serving an ever growing population of young people. Specifically, Zum focuses on providing a convenient and safe ride sharing service for children. The services helps assist parents with juggling busy schedules by giving children to get their own transportation to and from school, after-school events, and other activities. There are also options regarding child care as the user requires.


Drivers are thoroughly vetted by the company in a three-tier process. Initially, the drivers will need to provide proof of a clean driving record in addition to verifiable child care experience. Drivers must also submit to multiple in-depth background checks and a driving test. The last phase is that the vehicle in question must stand up to and pass a detailed 22-point inspection.


Zaki Fasihuddin, the CEO of the Volvo Cars Tech Fund spoke about the decision to invest in Zum. “Parents lead busy lives and we all understand the challenge of solving the daily life puzzle, so we like what we see in Zum: they offer a trusted and safe service that gives parents comfort that their kids are in good hands,” he said.


This is not the first investment made by the Volvo Cars Tech Fund. Its initial goal was to seek out investment opportunities around the world. By focusing on trends and technologies that could improve automotive manufacturing and practices, Volvo hopes to be seen as a lead innovator in the field. Previous investments include sensor developer Luminar Technologies, electric car charging firm Freewire, and Finnish electronics innovator Forciot.


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