Telematics company Trimble has set up a venture fund to invest in early and growth-stage innovative companies in the construction, quarrying, agriculture, geospatial and transportation industries.
The new Trimble Ventures fund will launch with US$200m allocated for investments and focus on companies with the potential for technology-enabled innovation and disruption in the digital transformation of the industriesTrimbleserves.
In addition to an investment, Trimble says the fund will offer partner companies hands-on expertise and insights, industry experience and access to customers, markets and distribution.
The fund will invest in early and growth-stage companies with technologies and solutions related to hardware and software applications; artificial intelligence; augmented, virtual and mixed reality; autonomy and robotics; blockchain; the Internet of Things (IoT) and analytics; and sustainability.
“We are focused on partnering with companies that are solving important problems in markets that align with our vision of transforming the way the world works,” said Rob Painter, Trimble’s president and CEO. “Innovation is a cornerstone for Trimble. By providing capital, industry expertise and broader access to markets for early and growth-stage companies, we can help them scale more rapidly.”
Painter said that the partners can help extend Trimble’s platforms to better serve its collective customers. He added that the fund will provide an opportunity to accelerate innovation and effectively bring new solutions to our customers and industry.
More info:ventures.trimble.com
