Ana Troncoso Ceola, EVP and global head of strategy, business development, sustainability and marketing of ABB. Image courtesy of ABB Ventures.
Swiss electrical equipment producer ABB has launched ABB Motion Ventures, an open innovation and venturing arm.
ABB Motion Ventures will be led by London-based Ana Troncoso Ceola, who joined ABB in November 2023 as executive vice president and global head of strategy, business development, sustainability and marketing.
Previously, Troncoso Ceola worked at oil and gas producer Shell as global VP of acquisitions, divestments and new business development for nearly four years after over a decade at mining group Rio Tinto.
The new unit falls under the auspices of ABB Ventures, a corporate venture capital subsidiary, formerly known as ABB Technology Ventures, which has invested some $400m in more than 50 companies since 2009, having scored 13 exits to date.
ABB Ventures operations have been decentralised and responsibility lies within each business area. It also runs Electrification Ventures under Mads Møller as well as Robotics and Discrete Automation Ventures overseen by GCV Rising Star Claudio Jordan.
Motion Ventures will back startups working on sustainability and resource-efficient technologies. ABB Ventures’ focus areas include robotics, industrial IoT, AI, energy transition, cybersecurity, electric mobility, smart buildings and distributed energy.
“We are committed to collaborating with startups, academia and industry experts to shape the future of industrial electrification and automation, whilst driving value and growth for our customers and society,” Troncoso Ceola said in a LinkedIn post.
