Johnson Controls, Ericsson and Analog Devices are among the limited partners for Alchemist Accelerator's second fund, for which it has raised $2.5m.
US-based startup accelerator Alchemist Accelerator has raised $2.5m for its second fund, securing capital from several corporates according to TechCrunch.
Automotive and industrial components producer Johnson Controls, communications equipment manufacturer Ericsson and Analog Garage, a corporate venturing subsidiary of semiconductor maker Analog Devices, all committed capital to the fund.
Alchemist’s six-month program will start in April this year and will target 17 startups based in the San Francisco Bay area that generate revenue from enterprises rather than consumers. Each participant…
