Amatil X, Australia-based beverage bottling service provider Coca-Cola Amatil’s corporate venturing and startup accelerator division, has launched an investment vehicle with venture capital and asset management firm Artesian Venture Partners.
The multimillion-dollar scheme, dubbed Amatil X Early Stage Venture Fund, will be sponsored by Amatil X and run by Artesian. Amatil X already operates a corporate venturing unit known as AX Ventures.
The fund will back early-stage startups strategically aligned with Amatil and has already made its first investment, in New Zealand-based, tourism and logistics-focused artificial intelligence assistant provider Aider.AI.
Chris Sullivan, director of partners and growth for Coca-Cola Amatil Group, said: “One focus of Amatil X is to invest in platforms that allow our current and future customers to optimise their business and increase sales.
“Artesian are recognised experts in identifying and recommending high-quality, early-stage startups for investment. We are proud to partner them in growing startup ecosystems and scouting for business opportunities for the future.”
