New digitization ideas

Plansee acquires interest in start-up fund

Plansee Group has participated in the funding round of the Speedinvest Industry fund and become one of its core investors. The fund has 50 million euros of growth capital available for developing and subsidizing industry- and technology-centered start-ups.

"We are investing because we want to see, assess and ideally further develop new ideas for digitization in the industrial environment at a very early stage," said Plansee Group's Karlheinz Wex, a member of the Executive Board. The participatory interest was a cornerstone in the efforts to complete the group's digital transformation by 2021, Wex added.

"The intelligent use of our data is a prerequisite for simplifying the working relationship with our customers and for controlling our production operation more intelligently," Wex stated. The fund is expected to provide financing primarily to companies focusing on areas such as Big Data & Analytics, the Smart Factory, and new business models in the industrial domain. The fund is aimed at founders from across Europe, but places special emphasis on Germany, Austria and Switzerland as a result of being based heavily in industry.