US-based engineering firm Trimble formed a $200m corporate venture capital subsidiary yesterday to back early and growth-stage companies operating in the agricultural, construction, geospatial and mobility industries.
Trimble Ventures will concentrate on areas including artificial intelligence-equipped hardware and software tools, augmented, virtual and mixed reality systems, automation and robotics technology, blockchain, the internet of things, data analytics and sustainability.
Founded in 1978 as Trimble Navigation, the firm initially provided satellite navigation hardware and software processing products before adding industrial technologies to its offerings covering agriculture, construction, logistics and geospatial applications.
Rob Painter, Trimble’s president and CEO, said: “Innovation is a cornerstone for Trimble. By providing capital, industry expertise and broader access to markets for early and growth-stage companies, we can help them scale more rapidly.
“In addition, our partners can help extend Trimble’s platforms to better serve our collective customers. This is an exciting opportunity to accelerate innovation and effectively bring new solutions to our customers and industry.”
