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Scania Growth Capital focuses on automation and Software-as-a-Service with latest investment

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Innovative venture capital fund Scania Growth Capital has invested in Sweden-based automation specialist AKOA.

AKOA provides services such as robotic process automation, virtual assistants, chatbots and artificial intelligence, which it uses to streamline business process automation.

Scania Growth Capital’s investment will support AKOAs expansion into new markets and strengthen its existing service offering.

As part of the investment, Anne-Marie Öhlén, the current director of finance processes and innovation at Scania, is set to join AKOA’s board of directors.

Öhlén said: “We have traditionally been very focused on automating and streamlining our production processes at Scania. We are now also taking automation and digitalisation to the next level for other functions, like finance, accounting and HR.

“Through Scania Growth Capital, we have an opportunity to tap into early development and innovation that is industry-relevant, while outside our own core business, and to feed our perspective as a large industrial player back to AKOA.”

Scania Growth Capital is the corporate venture capital investment arm of global truck manufacturer Scania that focuses its investments on high-growth companies operating in the auto and transport industries.

Scania Growth Capital invests mainly in companies that are working towards a more sustainable transport system or developing disruptive technologies.

AKOA, which stands for Another Kind of Automation, has provided its technology to six Fortune Global 500 companies and more than 80 clients worldwide.

Sebastian Toro, founder of AKOA, said: “We combine expertise in technology, extensive experience in change management and consulting, with a passion for developing the workspace of the future.

“In a market where up to 60% of all automation implementations fail to deliver the desired outcomes, we are thrilled and honoured to receive this investment from Scania, one of Europe’s most respected brands, and a client of ours. This investment and partnering with Scania to leverage their unique knowledge and vast network, will enable us to accelerate our growth and strengthen our offering.”