Two of the co-founders of Swedish autonomous truck startup Einride have launched a venture firm, which is targeting around €450m to invest into European startups over the next three years.
Called Navisalma, it was founded by Einride co-founders Robert Falck and Linnéa Kornehed Falck, along with ex-McKinsey partner Robert Westerdahl. Robert and Linnéa Kornehed Falck are married. It plans to invest around €450m in European deep tech startups, such as robotics companies, over the next three years. The funds have not yet been raised, it is understood.
Navisalma plans to initially raise around €40m, within the next month, most of which has already been raised, with funding coming from the founders and other investors. This €40m is to fund operational costs of the fund and some seed investments. It will then look to raise €450m for investment purposes, but did not disclose further detals of possible investors.
In an ambitiously worded press release, the firm said it planned to back “10 new global leaders over the next 10 years".
The firm's play is to focus on Europe’s strength and not try to mimic Silicon Valley, it says.
