From Chalmers to Europe

Vehco was founded in January 2001 when Anders Tingström arrived with his business concept at Chalmers School of Entrepreneurship. The founding team consisted of Anders and three students at the school. In the spring of 2001 major studies were carried out on what criteria really needed meeting for an onboard computer in trucks to be successful. The technical development of the Co-Driver product started shortly after that.

Co-Driver was launched on the Swedish market in August 2002 in conjunction with the Lastbil 2002 truck fair at Elmiamässan in Jönköping. The first installation took place shortly after at Vehco’s first customer, B Andersson Åkeri AB in Fiskhamnen, Göteborg with 20 or so trucks.

2003 represented a commercial breakthrough for Vehco, in the form of a number of new customers, including AA-Bolagen, which is one of Sweden’s largest haulage companies. 2004 continued well and Co-Driver became the leading product on the Swedish market in its sector. 2005 and 2006 were years that saw dramatic growth for Vehco with a twofold increase in the number of customers. By 2007 it was clear that Vehco had become three times as big as its closest rival.

At the start of the recession in autumn 2008 Vehco reported its best quarterly figures ever and could boast organic growth of around 60 per cent for 2008. Vehco had sales of SEK 46 million in 2008. That autumn Vehco received its biggest order to date when Reaxcer ordered Co-Driver as its mobile IT solution valued at SEK 17 million. Vehco is now represented in four European countries and 2009, judging from what we can see, looks like being a good year for Vehco and we now have more than 40 employees. Vehco’s vision is to be the market leading company in its field in Europe by 2020.