Plansee Group says that it has participated in the funding round of the Speedinvest Industry fund and become one of its core investors. The fund has €50 million of growth capital available for developing and subsidizing industry and technology-centered start-ups.

‘We are investing because we want to see, assess and ideally further develop new ideas for digitization in the industrial environment at a very early stage,’ said Plansee Group's Karlheinz Wex. ‘The intelligent use of our data is a prerequisite for simplifying the working relationship with our customers and for controlling our production operation more intelligently. The fund is expected to provide financing primarily to companies focusing on areas such as Big Data & Analytics, the Smart Factory, and new business models in the industrial domain. The fund is aimed at founders from across Europe with special emphasis on Germany, Austria and Switzerland.

This story is reprinted from material from Plansee, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.