General Electric, Rockwell, Verizon and Software AG all backed The Hive's third AI-focused fund, which has closed at $26.5m.
US-based company builder The Hive closed a $26.5m fund yesterday with contributions from industrial conglomerate General Electric, industrial automation technology producer Rockwell Automation, telecommunications firm Verizon and enterprise software provider Software AG.
Verizon invested through its Verizon Ventures subsidiary, while the others participated directly. Limited partners in the fund, the third to be closed by The Hive, also include venture capital firm March Capital Partners and a range of undisclosed private investors.
Founded in 2012, The Hive is a VC…
