Volvo invests in driver monitoring company CorrActions

Volvo Cars Tech Fund is making a strategic investment in Israeli driver monitoring technology startup CorrActions. “We have decided to acquire a stake in CorrActions to support the further development and commercialization of our driver monitoring technology,” said Alexander Petrofski, President of Volvo Cars Tech Fund. The company’s first round investment size is $6 million. Volvo Cars Tech Fund, the technology investment unit of Swedish automotive company Volvo, is investing in Israeli driver monitoring startup CorrActions. The initial investment size is $6 million. The company aims to minimize accidents by monitoring drivers’ micromuscle movements with sensors installed in vehicles. “With the Tech Fund, we aim to be the strategic partner of choice for exciting startups that can help strengthen our position as a technology leader in our industry. CorrActions fits this purpose perfectly and is focused on a mission that is close to our hearts. Our goal is to make cars and traffic safer,” said Alexander Petrofski, President of Volvo Cars Tech Fund. The idea behind CorrActions is to use sensors already built into the car to track the driver’s micromuscle movements. These movements, the company suggests, could reflect brain activity that CorrActions’ algorithms can assess to check if the driver is tired, distracted, or drunk. “Today, we are working with a number of companies and large fleet managers to track the capabilities of the person behind the wheel,” CorrActions CEO Ilan Reingold said at a meeting in Israel. Founded in 2019 by neuropsychologist and business executive Zvi Ginosar, the company previously raised a $2.7 million seed round in 2021.