Siemens launches fund to back industrial automation startups

Siemens launches fund to back industrial automation startups

PanARMENIAN.Net - Siemens Venture Capital, the corporate financing arm of Europe’s biggest engineering company, is launching a new, $100 million fund to back early-stage startups working in the areas of industrial automation and other digital technologies that can transform manufacturing. This comes after Siemens made two notable startup investments over past few months — in 3D visualization startup Lagoa, and CounterTack, the developer of next generation cyber security software, TechCrunch reports.

“As digitization and software are becoming increasingly important for manufacturers to compete in the global marketplace, the Industry of the Future Fund will support Siemens’ “Industrie 4.0” strategy by providing capital to those companies whose innovative technologies and vision have the potential to change the landscape of manufacturing and industrial automation,” said Siegfried Russwurm, CEO of the Siemens Industry Sector.

According to the company statement, this new fund will back start-up companies early in their lifecycle and aims to foster partnerships with companies, which will transform industrial markets or even create completely new ones through pioneering technologies.

Related links:
 Top stories
"Increasing production fivefold over the next two years will be challenging and will likely require some additional capital,” Musk said.
All three planets had were similar in size to Earth and close enough so their atmospheres can be analyzed with current technology.
Disney’s ABC, ESPN and Disney Channel are expected to be available on the service along with the Fox broadcast network.
This experience will be similar to a person-to-person call, except that the screen will display the group’s name and the list of members.
Partner news