Advantech (stock code: 2395), a global leader in industrial IOT, has partnered with Momenta Ventures to launch the AIoT Ecosystem Fund, a target USD50 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.
KC 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 endeavour.”
Ken Forster, Executive Director of Momenta, added: “We’ve long been admirers of Advantech’s quiet but powerful presence in the market, guided by KC 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.
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Advantec
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. (www.advantech.com)
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. For more information, visit (www.momenta.one), join the @MomentaPartners conversation or contact info@momenta.one
Advantech Connect Online Partner Conference
Advantech Connect Online Partner Conference is a global virtual event where business leaders and tech visionaries around the world gather to share their AIoT vision. During the 2-month-long relay event (Feb. 24- May 6, 2021), Advantech and its key partners will dive deep into dialogue on the future of the IoT world and uncover collaborative ways to accelerate digital transformation.(Advantech Connect)