Robert Bosch's corporate venturing unit now has roughly $480m under management, launching its third fund and disclosing its latest investment, in irrigation technology developer CropX.
Robert Bosch Venture Capital (RBVC), the strategic investment arm of Germany-based industrial product and appliance manufacturer Robert Bosch, established its third fund today, committing €150m ($170m).
RBVC invests in companies and industry-specific funds across Europe, the US, Israel and China. It invests between €500,000 and €5m a time, with total commitments for each company ranging between €6m and €15m for a stake generally sized between 10% and 25%.
Ingo Ramesohl, managing director of RBVC, said: “The new fund will continue focusing on disruptive startups in the areas of automation and electrification, energy efficiency, enabling technologies and healthcare systems.
“Investments will also be done in services and business models as well as new materials that are relevant to the above-mentioned areas of business.”
The third fund has increased the capital managed by RBVC to about $480m. Its portfolio companies include fabless semiconductor producer Movidius, data stream network PubNub and radio communication chip manufacturer GreenPeak Technologies.
RBVC announced the fund on the same day as its latest investment, in CropX, the Israel-based developer of an adaptive irrigation system. The unit teamed with Lab IX, a subsidiary of manufacturing services provider Flextronics, to provide $1m, enabling CropX to close its series A round at $10m.
CropX had raised the initial $9m in June 2015, securing funds from Finistere Ventures, Innovation Endeavors, GreenSoil Investments and OurCrowd. It plans to invest the money in product development and growing market adoption for its technology.
