Turkiye: Sabancı invests in US-based Fernhay Solutions

Sabancı Holding, one of Türkiye’s largest industrial groups, has invested in the U.S.-based company Fernhay Solutions through its corporate venture capital fund Sabancı Ventures.

With this investment, the number of companies in which Sabancı Ventures has directly invested has reached 11, and the number of foreign-based portfolio companies has reached six,the conglomerate said in a statement.

Fernhay Solutions, a provider of sustainable city and last-mile delivery solutions, has Temsa, one of the Sabancı Group companies, as its production partner, according to the statement.

Fernhay’s e-Cargo bike and eWalker have been developed in partnership with UPS and are already on the roads in three continents, nine countries and 20 cities.

Gökhan Eyigün, the president of Sabancı Holding’s Strategy and Business Development Group, underlined their commitment to shaping the “Sabancı of the future” through investments centered on technology and sustainability while simultaneously safeguarding and expanding their core businesses.

“Our investments serve as a strong indication of our long-term strategic vision.”

The group company Brisa took a very important step towards transformation into a tire-focused mobility company with the Arvento acquisition it made last year, he said.

“Another industrial group company, Temsa, continues to strengthen its transformation into an automotive-focused technology company with the steps it takes in the field of smart mobility while increasing its competence in zero-emission vehicles.”

“Continuing our strategic partnership will bring us closer together and pave the way for the launch of Fernhay Solutions in Türkiye,” said Bill Wachtel, the chairman of Fernhay Solutions.

Source: hurriyetdailynews

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