US-based industrial equipment and software producer Hypertherm has launched a corporate venturing vehicle known as Hypertherm Ventures in order to connect with advanced manufacturing technology startups.
Hypertherm provides industrial cutting equipment for use in large-scale work such as shipbuilding or manufacturing as well as robotics and computer-aided manufacturing software. It has not thus far been active in venture capital investing.
The newly formed fund will back startups developing technology in areas such as industrial cutting, welding and thermal processing as well as robotics, automation, machine learning, augmented intelligence, additive manufacturing, 3D printing, nanotechnology and the industrial internet of things.
Hypertherm Ventures plans to form partnerships with universities as well as startups and entrepreneurs, and is offering access to its parent’s experience in technology development, engineering, marketing, supply chain and distribution management.
Nathan Pascarella, business development manager for Hypertherm Ventures, said: “Just as we began 50 years ago with an invention that made plasma cutting commercially viable for the first time ever, we look forward to supporting other entrepreneurs as they work to bring their inventions to life.”
Pascarella forms part of a three-person team at Hypertherm Ventures, alongside vice-president of engineering and general manager Aaron Brandt, and vice-president of corporate development Sanjeev Srinivasan.
