Advantech and Momenta launch AIoT Ecosystem Fund aimed at accelerating European and North American AIoT Ecosystems
Advantech (stock code: 2395), a global leader in industrial IoT, has partnered with Momenta Ventures to launch the AIoT Ecosystem Fund, a target US$50-million venture capital fund focused on digital industry.
Targeting early growth stage companies emerging 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 in early 2021.
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, “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. Momenta has been exclusively focused on investing in and accelerating digital industry innovators since our founding almost a decade ago and believe that the impact of the innovators across these sectors will be even more significant in the future.”
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.
Ideal companies for investment are 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.