Trimble Launches $200 Million Venture Fund

Rhea-AI Summary

Trimble (NASDAQ: TRMB) has launched Trimble Ventures, a new $200 million venture fund aimed at investing in early to growth-stage innovative companies. This initiative aligns with Trimble's mission to revolutionize industries such as agriculture, construction, geospatial, and transportation. The fund will support companies focusing on technology-driven innovation, including AI, IoT, and sustainability. Trimble Ventures will provide not only capital but also industry expertise and market access, aiming to enhance innovation and customer solutions.

Positive

• Launch of Trimble Ventures with $200 million for investments.
• Focus on technology-enabled innovation in multiple industries.
• Support provided includes access to markets and industry expertise.

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• None.

SUNNYVALE, Calif., Aug. 4, 2021 /PRNewswire/ -- Trimble (NASDAQ: TRMB) announced today the creation of Trimble Ventures, a venture fund focused on investing in early and growth-stage innovative companies that align with Trimble's mission of transforming work in the agriculture, construction, geospatial and transportation industries.

The fund will launch with $200 million allocated for investments and focus on companies with the potential for technology-enabled innovation and disruption in the digital transformation of the industries Trimble serves. In addition to an investment, Trimble Ventures will bring unique value to partner companies by offering hands-on expertise and insights, industry experience and access to customers, markets and distribution.

Trimble Ventures will deploy strategic capital to accelerate the growth of innovative companies and partners that complement Trimble's products, technology platforms and support its customer's work. The fund will invest in early and growth-stage companies with technologies and solutions related to hardware and software applications; artificial intelligence; augmented, virtual and mixed reality; autonomy and robotics; blockchain; the Internet of Things (IoT) and analytics; and sustainability.

"We are focused on partnering with companies that are solving important problems in markets that align with our vision of transforming the way the world works," said Rob Painter, Trimble's president and CEO. "Innovation is a cornerstone for Trimble. By providing capital, industry expertise and broader access to markets for early and growth-stage companies, we can help them scale more rapidly. In addition, our partners can help extend Trimble's platforms to better serve our collective customers. This is an exciting opportunity to accelerate innovation and effectively bring new solutions to our customers and industry."

Additional information on Trimble Ventures can be found at: ventures.trimble.com.

About Trimble

Trimble is an industrial technology company transforming the way the world works by delivering solutions that enable our customers to thrive. Core technologies in positioning, modeling, connectivity and data analytics connect the digital and physical worlds to improve productivity, quality, safety, transparency and sustainability. From purpose-built products to enterprise lifecycle solutions, Trimble is transforming industries such as agriculture, construction, geospatial and transportation. For more information about Trimble (NASDAQ:TRMB), visit: www.trimble.com.

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Media Contact: 
Lea Ann McNabb
+1 408-481-7808
leaann_mcnabb@trimble.com 

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SOURCE Trimble

FAQ

What is Trimble Ventures?

Trimble Ventures is a $200 million venture fund created by Trimble to invest in innovative early and growth-stage companies.

What industries does Trimble Ventures target?

Trimble Ventures targets companies in agriculture, construction, geospatial, and transportation.

What types of technologies will Trimble Ventures invest in?

The fund will invest in technologies such as AI, IoT, augmented reality, and sustainability solutions.

How much capital is Trimble Ventures launching with?

Trimble Ventures is launching with $200 million allocated for investments.

What benefits does Trimble Ventures offer to partner companies?

Trimble Ventures offers capital, hands-on expertise, industry experience, and access to markets.