Israeli startup Prospera, which makes artificial intelligence sensors to aid farmers in monitoring crops, was acquired by U.S.-based firm Valmont Industries for $300 million.IronNet and 3D printer maker Markforged went public via SPACs this year.Įdgard Capdevielle, CEO of Nozomi Networks, told CNBC his company is considering going public through a reverse merger with a special purpose acquisition company or a traditional initial public offering.Ī growing number of industrial businesses that aim to solve supply chain issues with robotics, 3D printing and artificial intelligence have gone public this year. Nozomi, which specializes in cybersecurity for the industrial sector, just raised $100 million in a Series D round from a group of investors including GGV Capital and Honeywell. Lux Capital has allocated $150 million to $200 million in industrial companies such as Veo Robotics and Nozomi Networks this year. Increased awareness around supply chain constraints continues to grow as companies such as FedEx and Nike reference the impact the backlog is having on their business. "Then when the pandemic hit, they became broad issues and actually started to affect consumers." Only people in supply chain knew about supply chain issues," Evans said. "Supply chain issues used to be a functional problem. Lacking a sexy story and consumer-facing products, industrial companies have long struggled to attract venture capital interest.īut the recent surge in supply chain bottlenecks, logistical issues and factory shutdowns during the Covid pandemic has pushed Lux Capital, GGV Capital and General Catalyst, among other reputable VCs, to invest in cutting-edge start-ups that specialize in predictive technology, software and artificial intelligence.ĭriving more investor funds in this space is a broader understanding of how serious these issues are, according to Dave Evans, CEO of Fictiv, an on-demand manufacturing company based in San Francisco. Lux has $4 billion of assets under management. "The market is red hot right now," Bilal Zuberi, partner at Lux Capital, told CNBC in an interview. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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