The new CVC will invest in startups developing hardware and software products in the smart living sector.
Blum Group, an Austrian furniture fittings producer, has established a corporate venture capital arm to invest in and build startups.
Blum Ventures will invest in smart living solutions, industrial tech, green buildings and autonomous technologies. It will also build ventures in the same fields.
The ventures unit will focus on early-stage companies in the seed to series A stages, with cheque sizes between €500,000 and €3m. Its geographic focus is Europe, especially the DACH region, UK and the Nordics.
The ventures team offer startups market access through using Blum as a customer. It will also offer its expertise in kinematics, mechatronics and manufacturing.
Blum Group is a family-owned company with operations worldwide, specialising in the manufacture and distribution of furniture fittings.
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