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Thursday, 15 September 2022 09:25

Suzuki makes investment in Melbourne EV tech company Featured

Applied EV co-founder and chief executive Julian Broadbent. Applied EV co-founder and chief executive Julian Broadbent. Supplied

Japanese multinational firm Suzuki Motor Corporation has made a strategic investment in Melbourne firm Applied EV to speed up the development of software for future mobility.

A statement from Applied EV, which was set up in 2015, said it had closed the first tranche of a two-part round of funding, having raised $21 million, an amount that valued the company at $170 million.

Apart from Suzuki, St Baker Energy and Innovation Fund were also said to have made "significant investments" during the round.

The Japanese firm signed an agreement with Applied EV in September last year and, after due consideration, has decided to strengthen the ties with the Australian company.

Applied EV has developed a software-based vehicle control system known as the Digital Backbone which can be utilised in electric vehicles that use autonomous driving applications.

blanc robot

The Blanc Robot powered by the Digital Backbone. Supplied

Applied EV co-founder and chief executive Julian Broadbent said: "Suzuki is a highly respected automotive company, delivering millions of vehicles to customers globally. With over 100 years of expertise, strong values, and a huge market, we’re excited to see what the future will hold.”

A second Applied EV product is its Blanc Robot, which is powered by the Digital Backbone. The robot is a cabinless, driverless vehicle, which can be used for a number of autonomous commercial uses, including on-road and off-road applications. It serves as a turn-key solution for commercial and logistics customers.

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Sam Varghese

Sam Varghese has been writing for iTWire since 2006, a year after the site came into existence. For nearly a decade thereafter, he wrote mostly about free and open source software, based on his own use of this genre of software. Since May 2016, he has been writing across many areas of technology. He has been a journalist for nearly 40 years in India (Indian Express and Deccan Herald), the UAE (Khaleej Times) and Australia (Daily Commercial News (now defunct) and The Age). His personal blog is titled Irregular Expression.

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