Ryder Launches $50 Million Corporate Venture Capital Fund RyderVentures
Ryder System, Inc. (NYSE: R), a leader in supply chain, dedicated transportation and commercial fleet management solutions, today announces RyderVentures, a new corporate venture capital fund to invest in and partner with start-up companies that are developing new technologies and business models that deliver advancements and automation in the logistics and transportation industries.
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Ryder focused on the “Future of Logistics” at the CES 2020 show in Las Vegas. The company showcased its investment in cutting-edge technologies aimed at advancing the logistics industry, while seeking out the latest innovations and the start-ups behind them. (Photo: Business Wire)
RyderVentures is targeting $50 million in investments over the next five years. The focus is on start-up companies that are tackling disruptions in the supply chain, driven by accelerating demand for e-commerce fulfillment, asset sharing, next-generation vehicles, automation, and data analytics, among others.
“Ryder has a strong history in leveraging emerging technologies that help make our business and, ultimately, our customers’ businesses better and more competitive,” says Karen Jones, chief marketing officer and executive vice president of new product innovation at Ryder. “With RyderVentures, our goal is to identify earlier in the process those new technologies that address our customers’ pain points and work alongside the start-ups developing them to speed the solutions to market. We’re looking for innovative technologies from start-ups with strong growth potential but need the expertise of an industry leader with the depth and breadth of experience that comes with nearly 90 years in logistics.”
With more than 50,000 customers including some of the biggest brands across more than 20 industries and relationships with some of the world’s leading original equipment manufacturers, Ryder is in a unique position to help start-ups accelerate their development, pilot and perfect their products in real use cases, speed their products to market, and scale for wide-spread adoption.
Additionally, the company brings experience in creating its own successful start-up COOP by RyderTM – a first-of-its-kind, peer-to-peer commercial truck sharing platform. Ryder has also partnered with several technology start-ups to develop its RyderShareTM product, a real-time visibility and collaboration platform for supply chain, as well as worked with other new players leading the charge in electric and autonomous vehicles, charging infrastructure, and smart warehousing.