Tech

Rock the Kasbosch? Bosch has a new $295 million VC fund – TechCrunch


Bosch’s venture arm just announced its fifth fund, saying it is eyeing startups with “the potential to improve quality of life and conserve natural resources.”

New $295 million (€250 million) investment vehicle raises stakes from Bosch VCadvance fund of about $53 million, but the German company’s global focus on deep technology has remained unchanged. For Bosch VC, that great category includes everything from autonomous vehicles to an internet of things platform.

CEO Ingo Ramesohl says climate technology is also on the company’s radar – including solar power, carbon capture and alternative fuels. Typically, Bosch VC supports Series A or B stage startups, investing up to about $27 million each (€25 million).

Compared to its parent company in Germany, a 135-year-old conglomerate, Bosch VC is run by a relatively small team of 22 investment directors. According to Ramesohl, that number will grow with the launch of a new US office in Boston. The East Coast office will arrive “very soon, essentially next week,” Ramesohl added. It will co-exist with the Bosch VC office in Sunnyvale, CA.

As well as backing climate tech startups, Bosch recently said it would reduce the amount by $3.5 billion to develop “climate-neutral” technology, including vehicle electrification, hydrogen electrolysis machineand heat pump.



Source link

news5s

News5s: Update the world's latest breaking news online of the day, breaking news, politics, society today, international mainstream news .Updated news 24/7: Entertainment, Sports...at the World everyday world. Hot news, images, video clips that are updated quickly and reliably

Related Articles

Back to top button