Germany-based clean-tech software developer PE International has raised €8m ($11m) from Siemens Venture Capital, the corporate venturing unit of local industrial conglomerate Siemens, and private equity firm GIMV.
Detlef Pohl from Siemens Venture Capital will take a board at PE International. The portfolio company was started in 1991 and has more than 1,000 clients, including Siemens.
Ralf Schnell, chief executive of Siemens Venture Capital (SVC), which has invested more than €800m in over 150 companies and 40 venture capital funds, said: "PE International is a uniquely complete vendor in the fast growing market for sustainable business software and services."
In addition, SVC advises the German Siemens pension funds on their private equity allocation and launched the fund of venture capital funds, Siemens Global Innovation Partners I.