France-based aerospace company Safran launched a corporate venturing entity called Safran Corporate Ventures, today with €50m ($55.6m) of capital.
The cash will be invested in innovative startups over a three-year period, initially focusing on companies based in Europe and North America before expanding its reach to the rest of the world.
Safran will target startups developing technology for the aerospace, defence and security sectors involving advanced materials, robotics, network sensors and data analysis, energy technology for aircraft and other vehicles, and connected systems for identifying and authenticating individuals.
Safran Corporate Ventures will take minority stakes in its portfolio companies, and will also seek to form commercial and development agreements between those companies and its own subsidiaries and divisions.
Jean-Pierre Cojan, Safran’s executive vice president of strategy and transformation, will supervise the unit. Grégoire Aladjidi, who joined the company in July 2014 from venture capital firm Demeter Partners, and Hélène de Cointet will act as its directors.
– Photo courtesy of Safran S.A.