Volvo Cars Tech Fund completed an investment in carwow.

Volvo Cars Tech Fund, a venture capital arm of Volvo Cars, completed an investment in carwow, an online marketplace for buying and selling cars. Financial terms were not disclosed. “We were one of the first car manufacturers committed to shift to online sales and through this strategic partnership, we will learn and gain insights into online buying behaviour. Our collaboration with carwow will help us and our retail partners grow volumes and reach our target of selling around half of our volume online by 2025,” Lex Kerssemakers, Volvo Cars CCO.