Industrial automation and digital transformation giant Rockwell Automation announced Nov. 7 its investment in Momenta’s Industry 5.0 Fund, a venture capital and value creation fund that supports entrepreneurs focused on resilient, sustainable, and human-centric industrial operations.
The infusion provides Milwaukee-based Rockwell Automation with early access to innovative technology that has the potential to disrupt industrial markets and increase sustainability, according to a joint release from Rockwell and Momenta.
Switzerland-based Momenta launched the $100 million fund in January in cooperation with the EU Commission to support startup companies working to advance the commission’s Industry 5.0 initiative, which highlights research and innovation as drivers for a transition to a sustainable, human-centric, and resilient industry, moving the focus from shareholder value to stakeholder value, the joint release noted.
Aimed at early growth-stage innovators driving the digital transformation of energy, manufacturing, smart spaces, and supply chains, the Industry 5.0 fund will deliver venture capital investment and direct value-creation to entrepreneurs in Europe and North America, according to the release.
Rockwell Automation is an anchor investor in the fund—though the release did not mention the dollars the company is investing—but Rockwell did say its venture team will work closely with Momenta and the portfolio companies, offering a "wide breadth of expertise and Rockwell’s strategic network."
“We’re excited to partner with Momenta to find the startups that are poised to disrupt the industry and align with our purpose of expanding human possibility. Supporting and adopting technology that is beneficial for all stakeholders is inherently beneficial for our shareholders as well,” added Cyril Perducat, senior VP and chief technology officer at Rockwell Automation.
Ken Forster, founding partner at Momenta, remarked: “We’re honored to have Rockwell Automation as an investor in our Industry 5.0 fund. Momenta’s focus for the past decade has been investing in companies driving industrial impact, and we could not think of a better partner for this Industry 5.0 fund than Rockwell Automation.”