Bosch VC launches $295M fund for deep tech startups

Bosch’s enterprise arm simply introduced its fifth fund, saying it’s looking out for startups with the “potential to enhance high quality of life and preserve pure assets.”

The brand new $295 million (€250 million) funding automobile ups the stakes from Bosch VC‘s prior fund by about $53 million, but the German agency’s world give attention to deep tech stays a lot the identical. For Bosch VC, that nebulous class consists of every thing from autonomous automobiles to Web of Issues platforms.

Local weather tech can also be on the agency’s radar — together with photo voltaic, carbon seize and different fuels, managing director Ingo Ramesohl stated in a name with TechCrunch. Usually, Bosch VC backs startups on the Collection A or B stage, investing as much as about $27 million apiece (€25 million).

In comparison with its German father or mother firm, a 135-year-old conglomerate, Bosch VC is run by a comparatively small crew, with 22 funding managers. That quantity is ready to develop, in response to Ramesohl, with the pending launch of a brand new U.S. workplace in Boston. The East Coast workplace is coming “very quickly, principally subsequent week,” added Ramesohl. It’ll exist alongside Bosch VC’s workplace in Sunnyvale, California.

In addition to backing local weather tech startups, Bosch just lately stated it might drop round $3.5 billion to develop “climate-neutral” tech, together with automobile electrification, hydrogen electrolyzers and heat pumps.

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