Volvo Cars Acquires Luxe for Undisclosed Sum

Volvo Cars, the premium automobile company, announced the acquisition of the platform, technology, key staff, and other assets of Luxe, a U.S.-based valet and concierge service.

Luxe, founded in 2013, is an on-demand valet parking and car services app that aims to make it easier to own a car. The Silicon Valley-based company already operates in a select number of major U.S. cities, including San Francisco, New York, and Chicago. The service allows drivers to drop off their cars at any point in the city, where a professional valet takes care of finding secure parking spots, as well as fuelling and cleaning cars  whose owners elect additional service.

Prior to the acquisition, Luxe had raised $75.5 million from investors, including Data Collective, Foundation Capital, Lightspeed Venture Partners, and WME.

“Our vision is a future in which technology simplifies life so you never have to stop at a petrol station, go to a car wash or even take your car in for service ever again,” said Atif Rafiq, chief digital officer at Volvo Cars. “The acquisition of Luxe is a step towards realising that ambition. I look forward to working closely with the highly talented team at Luxe, who created its advanced technology from the ground up.”

According to the company’s official statement, the acquisition of the Luxe platform is expected to accelerate Volvo Cars’ ability to offer digital customer experiences such as pick-up and drop-off services. The technology behind Luxe also provides Volvo with advanced algorithms addressing routing, logistics planning, and arrival time prediction.