Allison Transmission adds venture capital arm

Allison Transmission, a global supplier of propulsion solutions and medium- and heavy-duty automatic transmissions for commercial and defense vehicles, has announced the launch of Allison Ventures, a venture capital arm of the company that will strategically invest in, and partner with, startup and growth-stage companies to foster advancements in commercial-duty mobility and work solutions.

According to the announcement, Allison Ventures will be embedded within Allison’s corporate team rather than serve as a separate investment fund and is focused on advancing Allison’s global strategy in the evolving mobility market.

“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,” said Todd Bradford, vice president, Strategy, Business and Corporate Development, Allison Transmission.

The Allison Ventures team will focus on technologies that it identifies as having the ability to shape the future of commercial-duty mobility and work solutions. Initial areas of will include new technologies and business model innovations related to connectivity, digitization, automation, sustainability, electrification, manufacturing and operations.