France-based energy management and automation technology producer Schneider Electric launched a dedicated corporate venturing unit yesterday that will invest between €300m and €500m ($340m to $565m) in startups.
Schneider Electric Ventures will target energy efficiency and sustainability, in areas such as energy use and industrial management, and will deploy the capital in direct investments in startups, dedicated strategic funds, incubation initiatives and partnerships with entrepreneurs.
The unit has so far invested in real estate modelling technology developer Habiteo, building management platform KGS Buildings, energy management device producer Sense, industrial data system developer Element Analytics, industrial security software provider Claroty and electric vehicle charger installer Qmerit.
In addition to its external deals, Schneider Electric Ventures has incubated solar technology installer Clipsal Solar and electric vehicle fleet services provider EIQ Mobility, and formed a scheme called Greentown Labs Bold Ideas Challenge in partnership with hardware incubator Greentown Labs.
Heriberto Diarte, head of open innovation and ventures for Schneider Electric, said: “The investments we have made and the companies we have incubated so far are central to Schneider Electric’s vision for the future.
“These innovative technologies and services we are investing in will make a huge contribution to creating a world that is more connected, greener, efficient and sustainable.”
The company had originally made venture capital investments through a unit also called Schneider Electric Ventures, which was formed in 2000 with €50m of capital.
The fund was effectively closed when it was folded into Aster, the VC partnership Schneider Electric created with power and automation group Alstom, in 2010.
