Momenta and Advantech launch AIoT Ecosystem Fund for Digital Industry

Momenta Ventures has partnered with Advantech, a global Industrial Intelligence leader, to launch the AIoT Ecosystem Fund, a USD 50 million venture capital fund focused on digital industry. Aimed at early growth stage companies 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.

The fund will invest in 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. 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. Portfolio companies of the first two Momenta Venture Funds include the Swiss companies dizmo, Koubachi, Parquery and Thingstream.

Advantech, headquartered in Taipai hat more than 8000 employees and is present in 27 countries. The company with a market cap of more than $5 billion and revenues of more than $1.5 billion aims to be the global leader of embedded and automation solution platforms for IoT system integrators.

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. This is our third Digital Industry Fund since our founding almost a decade ago, each of which has been investing in later stage innovators. We believe the impact of the innovators across our key sectors is only at its start.”

The AIoT Ecosystem Fund will be formally launched during the 2021 Advantech Connect Online Partner Conference, a premier conference for embedded Innovation and AIOT. The event will be live streamed on 24 February. More information on the Advantech website.