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 sources.”
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 international deal with deep tech stays a lot the identical. For Bosch VC, that nebulous class consists of all the things from autonomous automobiles to internet-of-things platforms.
Local weather tech can also be on the agency’s radar—together with photo voltaic, carbon seize and various fuels, managing director Ingo Ramesohl mentioned in a name with TechCrunch. Usually, Bosch VC backs startups on the Sequence A or B stage, investing as much as about $27 million apiece (€25 million).
In comparison with its German mother or father firm, a 135-year-old conglomerate, Bosch VC is run by a comparatively small group with 22 funding managers. That quantity is ready to develop, in keeping with Ramesohl, with the pending launch of a latest 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, CA.
In addition to backing climate-tech startups, Bosch lately mentioned it could drop round $3.5 billion to develop “climate-neutral” tech, together with automobile electrification, hydrogen electrolyzers, and warmth pumps.