Trimble launches venture fund aimed at innovation

Trimble established a venture fund focused on investing in early and growth-stage innovative companies that align with the company’s mission of transforming work in the agriculture, construction, geospatial and transportation industries.

According to Trimble, the Trimble Ventures 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 it serves.

In addition to an investment, the company says 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 capital to accelerate the growth of innovative companies and partners that complement Trimble’s products, technology platforms and support its customers’ work. The fund will invest in 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 and analytics; and sustainability, Trimble says.

“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,” says 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,” Painter adds. “This is an exciting opportunity to accelerate innovation and effectively bring new solutions to our customers and industry.”