Rockwell Automation invests in Industry 5.0 fund
Rockwell Automation has announced its investment in Momenta’s Industry 5.0 Fund, a venture capital and value creation fund that supports entrepreneurs focused on resilient, sustainable and human-centric industrial operations.
Rockwell said the investment provides the company with early access to innovative technology that has the potential to disrupt industrial markets and increase sustainability.
Switzerland-based Momenta launched the $100 million fund in cooperation with the EU Commission to support startup companies working to advance the Commission’s Industry 5.0 initiative. The initiative highlights research and innovation as drivers for a transition to a sustainable, human-centric, and resilient industry, moving the focus from shareholder value to stakeholder value. It puts people at the centre by empowering them with information and technology to make decisions with clarity and confidence.
Aimed at early growth-stage innovators driving the digital transformation of energy, manufacturing, smart spaces and supply chains, the Industry 5.0 Fund will deliver venture capital investment and direct value-creation to entrepreneurs in Europe and North America.
Rockwell is an anchor investor in the fund, and its Venture team will work closely with Momenta and the portfolio companies. Rockwell said the investment complements the company’s inorganic growth strategy, giving the company insights and access to next-generation technologies driving digital transformation that are still in the early development stage.
“We’re excited to partner with Momenta to find the startups that are poised to disrupt the industry and align with our purpose of expanding human possibility. Supporting and adopting technology that is beneficial for all stakeholders is inherently beneficial for our shareholders as well,” said Cyril Perducat, senior vice president and Chief Technology Officer of Rockwell. “This partnership puts Rockwell in a unique position to provide early support and direction for innovative technology that will make our customers around the world even more resilient, agile and sustainable in years to come.”
Ken Forster, founding partner at Momenta, added: “We’re honoured to have Rockwell Automation as an investor in our Industry 5.0 fund. They define industrial automation and digital transformation in North America and have been expanding their global presence under an impressive leadership team. Momenta’s focus for the past decade has been investing in companies driving industrial impact, and we could not think of a better partner for this Industry 5.0 fund than Rockwell Automation.”
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