Bridgestone Europe, a subsidiary of Japan-headquartered tire manufacturer Bridgestone, has formed a partnership with venture capital firm Iris Capital to invest in mobility technology.
The partnership is intended to help enhance the corporate’s digital strategy and will involve it working with France-based Iris to discover and invest in mobility services, industry 4.0 and digital transformation technology developers in Europe, the Middle East and Africa.
Bridgestone Europe will also work with Iris Capital’s corporate limited partners, including automotive parts supplier Valeo, telecommunications firm Orange and advertising firm Publicis.
Iris Capital raised $280m for its latest fund, IrisNext, in 2017 following limited partner commitments from Valeo, Orange, Publicis, financial services firm Bred Banque Populaire and BPIfrance, the public investment bank of France.
Paolo Ferrari, executive vice-president of Bridgestone Group, said: “This corporate venture partnership with Iris Capital will allow us to accelerate our strategy while supporting startups and exploring new and disruptive models in the mobility ecosystem.”