Pinnacle, the US-based supply chain services provider formerly known as PinnacleArt, has set up a $50m corporate venturing unit.
The vehicle, Pinnacle Ventures, will focus on reliability technology, the company said. It will be run by Nathanael Ince, vice-president for business development at Pinnacle.
Ince said: “Innovation is at the core of Pinnacle’s values. As a company, we are not only driving heavy innovation internally, but we also want to empower others to do the same and help take the best ideas to industry to make the industrial community more reliable than it has ever been.”
Ryan Sitton, founder and chief executive of Pinnacle, added: “The challenge today, more than ever, is determining how to use the right data to make better reliability and safety decisions.”
