Despite the adverse business climate, the Bosch Group, which has an office in Israel, is increasing its venture-capital financing for the current fiscal year.
Its subsidiary Robert Bosch Venture Capital GmbH (RBVC) is establishing a new 250-million-euro startup fund.
As a supplier of venture financing, Bosch supports global companies whose innovations have the potential to enhance the quality of life and protect the environment. According to Dr. Stefan Hartung, chairman of the management board at Robert Bosch GmbH, “our investments in startups foster technical growth in business and society.” And we also profit from this teamwork since answers to ever-more-complex problems may often be found more quickly, efficiently, and effectively when working with others.
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In Israel RBVC invested in startups like TULU which provides building tenants with on-demand appliances and amenities by listing available supplies on an app; In SiteAware, which develops Digital Construction Verification (DCV) technology; and Cheetah Medical, the provider of 100% noninvasive fluid management technologies designed for use in critical care, operating room, and emergency department.
Bosch puts efforts to develop climate-neutral technology, sustainable mobility, and connectivity, which is why RBVC investments also target energy efficiency and powertrain electrification. Bosch has declared that it will spend billions on climate-neutral technologies, such as hydrogen technologies and digital business transformation.
As one of the largest corporate investors in Europe, RBVC focuses on creative technology businesses. Its portfolio consists of over 50 firms, the majority of which are engaged in artificial intelligence (AI), the internet of things (IoT), semiconductors, and quantum computing. RBVC invests up to 25 million euros in certain young startups and gives them access to the knowledge and connections of the Bosch Group, a well-known company that makes and sells technology and services.
according to Bosch, as part of its localization strategy, RBVC is consistently growing its global investment operations. RBVC has a presence in global technological hubs such as China, Germany, Israel, and the United States. Its U.S.
Open Bosch: early adoption of technological developments
RBVC specialists evaluate more than 2,000 businesses each year, but only roughly one hundred of them make it to the final line.
RBVC intends to leverage the new capital round to create technical solutions to altered geopolitical and business-policy conditions. “Two years of the COVID-19 epidemic and ongoing geopolitical turmoil have made their impact worldwide, as seen by chip shortages and interruptions to global value chains,” adds Ramesohl. “Therefore, we also seek to uncover technical developments that can bring relief in such circumstances.”
RBVC invests in six to ten well-chosen firms annually. In addition to finance, it provides expertise and operational assistance.
As Ramesohl notes, RBVC supports an open culture of innovation through its Open Bosch initiative, establishing early connections between entrepreneurs and Bosch operating divisions. This gives entrepreneurs the chance to become Bosch suppliers, customers, or technology partners. Bosch has early access to cutting-edge technology, which it may incorporate into its own ideas.
Bosch has already established several hundred relationships with startups in 2021 alone. This number since then tripled.
When an investment concludes, RBVC may also assist a startup in going public. Similar to institutional venture-capital funds in this regard.
The IPO of Xometry, the operator of an AI-assisted marketplace for on-demand manufacturing, was a recent success story. IonQ, the first publicly traded quantum computing business, was another triumph. Since 2021, Variantyx has been incorporated into RBVC’s portfolio. This company employs AI-assisted genetic testing to diagnose cancer and collaborates with the Robert Bosch Hospital in this area. RBVC has also invested in the firm BASiC Semiconductor, which develops silicon carbide power electronics, to help the transition to electromobility. Otive, formerly known as Keep Transportation, runs in the United States a fleet management system that saves trucking expenses and fuel use.