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
"We roughly know who they are. If we can take them out of the equation then the rest will fall down," Troels Oerting said.
Facebook, like Twitter and YouTube, is inaccessible in Iran on the grounds that the sites undermine Islamic values.
The firm said it brought the case in an effort to force the government to be more transparent about personal data requests.
The Google messenger is in early stages of development and is likely to be launched in 2015, sources aware of the plans said.
Partner news