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
Google said the information from Baseline will be anonymous and its use will be limited to medical and health purposes.
Most of the decline was due to a sharp drop in digital display advertising, which plunged 8% in the second quarter.
The test saw Facebook "manipulate" news feeds to control which emotional expressions the users were exposed to.
The bike will not go on general sale, instead the firm will select customers from the U.S. to ride it and provide feedback.
Partner news