By PR Newswire
ZURICH, BOSTON and SAN FRANCISCO, Feb. 4, 2021 Momenta and Advantech launch Momenta Ventures has partnered with Advantech, a global Industrial Intelligence leader, to launch the AIoT Ecosystem Fund, a target USD 50 million venture capital fund focused on digital industry. Aimed at early growth stage companies at the intersection of Artificial Intelligence (AI) and the Industrial Internet of Things (IoT), the AIoT Ecosystem Fund will deliver venture capital investment and direct value-creation to innovators in North America and Europe starting.
K.C. Liu, CEO of Advantech stated, “Advantech is committed to enabling an intelligent planet. This starts at the industrial edge with early innovators in energy, manufacturing, smart spaces, and supply chain management. We are committed to funding innovation and are actively cultivating these companies through our global Advantech ecosystem. We’re pleased to have Momenta as a partner in this important endeavor.”
Ken Forster, Executive Director of Momenta added, Momenta and Advantech launch “We’ve long been admirers of Advantech’s quiet but powerful presence in the market, guided by K.C. Liu’s leadership and vision, and are pleased to partner with them on this impactful fund. This is our third Digital Industry Fund since our founding almost a decade ago, each of which has been investing in later stage innovators. We believe the impact of the innovators across our key sectors is only at its start.”
Momenta will lead investments and drive acceleration through its award-winning advisory and talent practices, partnering with Advantech to leverage their hardware and software industrial intelligence solutions and their commercial access.
The fund will invest in Series A and B, early growth stage companies, headquartered in the EU, EFTA, US, and Canada, that provide digital solutions in the energy, manufacturing, smart spaces, and supply chain sectors.
The AIoT Ecosystem Fund will be formally launched during the 2021 Advantech Connect Online Partner Conference, a premier conference for embedded Innovation and AIOT.
About Momenta
Momenta delivers digital innovation, growth and leadership across energy, manufacturing, smart spaces and supply chain. Since 2012, we’ve advised over 125 clients, placed over 200 leaders, and invested behind 40+ innovators. Led by deep industry practitioners, our global presence and sector focus provides our clients with highly relevant innovation, growth and talent.
Advantech’s corporate vision is to enable an intelligent planet. The company is a global leader in the fields of IoT intelligent systems and embedded platforms. To embrace the trends of IoT, big data, and artificial intelligence, Advantech promotes IoT hardware and software solutions with the Edge Intelligence WISE-PaaS core to assist business partners and clients in connecting their industrial chains. Advantech is also working with business partners to co-create business ecosystems that accelerate the goal of industrial intelligence.
This news was shared to Prittle Prattle News via press release.
