Intel Capital, the corporate venturing subsidiary of semiconductor and data technology producer Intel, led a $30m series B round for US-based robotic automation technology provider Catalytic yesterday.
Venture capital firms Redline Capital, New Enterprise Associates and Boldstart also participated in the round, as did investor group Hyde Park Angels.
Founded in 2015, Catalytic has developed software that enables enterprises to automate tasks such as the processing of unstructured data, reducing manual effort and improving accuracy for corporate customers that include Robert Bosch and Mayo Clinic.
Proceeds from the round will be used to expand the company’s engineering, sales and operations teams. It had previously raised $5.6m in July 2018, according to a regulatory filing.
The 2018 financing added to the $11.1m in series A funding Catalytic received from Boldstart, Hyde Park Angels, Hyde Park Venture Partners, Valor Equity, Pritzker Group, Corazon, Lightbank and Chicago Ventures in 2016.
Intel Capital confirmed the Catalytic deal means it has now invested a total of $30m in three companies in the past week. It led a $23m series B round for cloud security technology developer Fortanix days after taking part in a $30m series B round for data storage technology startup Pliops.
Mauro D’Amato and Sunil Kurkure, investment directors at Intel Capital, said: “The cloud has been one of the most transformative trends in enterprise computing – boosting productivity, cutting costs and creating flexible environments.
“But cloud adoption still faces momentous challenges, including security risks and an exponential rise in computing complexity.”