The industrial product maker will launch the Next47 unit in October and invest $1.1bn in innovative technology developers over the next five years.
Germany-headquartered industrial product manufacturer Siemens will invest €1bn ($1.1bn) in disruptive technology companies through a corporate venturing unit that will be launched at the start of October, it said yesterday.
The unit, dubbed Next47 as a reference to 1847 – the year Siemens was founded – will invest in innovative technology in sectors relevant to Siemens such as decentralised electrification, artificial intelligence, autonomous machines, networked mobility and blockchain-equipped data transfer technology.
Siemens chief technology officer Siegfried Russwurm will head Next47…
