Battery Ventures
Canvas Category Consultancy : Company : Venture Capital
Founded in 1983, Battery is a global, technology-focused investment firm with offices in the U.S., Europe and Israel. We practice a collaborative, research-focused style of investing and regularly make early, growth and buyout investments in the same tech sector. We are currently investing from our 14th flagship fund, Battery Ventures XIV, and companion fund Select Fund II, together capitalized at a combined $3.8 billion, and have raised more than $13 billion since inception.
Assembly Line
Introducing the Revenue-Quality Podium: How Revenue Mix Drives Value for Industrial Tech and Life-Science Tools Companies
Based on a quantitative analysis of publicly-traded industrial technology and life-science tools (ITLST) companies and our own portfolio, we created a new framework â the Revenue-Quality Podium â to help management teams, investors and industry stakeholders track value creation as companies transition to a higher share of high-quality revenue.
In the software world, it is widely accepted that recurring/subscription revenue is a key value driver. Software companies are often valued on a multiple of annual recurring revenue (ARR) â higher ARR generally leads to a higher valuation. This preference for recurring revenue suggests that some types of revenue are considered more valuable or âhigh-qualityâ than others in determining the valuation of a business.
We think in parallel terms when evaluating current and prospective ITLST investments, focusing closely on the quality of a companyâs revenue. Most of our investments have a wide range of revenue streams, ranging from product sales and recurring consumable sales to service contracts and software/data subscriptions. Our two decades of experience in partnering with ITLST companies has reinforced our thinking that the percentage of higher-quality revenue is a meaningful indicator of current value, and moreover, should serve as a key lever to help our companies increase in value over time.
Battery Ventures Agrees to Acquire Medical and Industrial-Automation Company steute Technologies
Battery Ventures, a global, technology-focused investment firm, announced it has agreed to acquire steute Technologies GmbH & Co. KG, a company with over 60 years of experience in manufacturing innovative technology solutions for the medical and industrial sectors.
Based in LĂśhne, Germany, steute is a global manufacturer of switches, sensors and other products that enable increased automation and safety. The companyâs product line includes certified medical-control devices that help precisely control medical equipment in operating rooms globally.
In addition to the medical industry, steuteâs sensor and switching devices are pivotal in industrial environmentsâwhere safety and reliability are paramountâparticularly in environments that must withstand explosive or corrosive conditions and extreme temperatures. steute also provides automation solutions across the shop floor by wirelessly connecting key elements of manufacturing.
Proemion Holding GmbH Agrees to Acquire TrendMiner NV to Expand Industrial Asset-Monitoring and Analytics Platform
Proemion Holding GmbH, a global provider of advanced data and analytics technology for mobile industrial assets, announced an agreement to acquire TrendMiner NV, an industrial analytics company, from Software AG. TrendMinerâs technology is used across industries including chemicals, oil and gas, pharmaceuticals, power generation, food and beverage, and high-tech manufacturing.
The spinout and acquisition of TrendMiner, based in Belgium, will significantly expand Proemionâs existing analytics capabilities for critical industrial equipment, which help equipment manufacturers and operators gather machine data remotely and continuously to maximize uptime and performance. TrendMiner produces a complementary, web-based, self-service analytics platform for monitoring critical equipment inside complex industrial environments. The technology allows teams to collaborate, learn and improve the overall performance of all production.
Viam Announces $45M Series B Funding for Revolutionary Software Platform Accelerating AI, Data, and Innovation in Robotics, IoT, and Smart Machines
Viam, the software platform for smart machines, today announced that it has closed $45 million in Series B financing. The round includes participation from continuing investors, Union Square Ventures and Battery Ventures. The financing brings Viamâs total funding to $87 million. The latest funding will enable Viam to continue accelerating enterprise partnerships, driving commercial innovation, and making further developments into the software platform.
Viam is a fully modular, interoperable, and open source software solution that works seamlessly across all hardware and any fleet of machines. Its open architecture removes costly and complex barriers to working with physical devices, in order to speed developer velocity, democratize access to open data to inform AI, and accelerate innovation in critical sectors such as industrial manufacturing, energy, and climate.
âťď¸ UBQ Materials Raises $70 Million in Funding, Led by Eden Global Partners
UBQ Materials, climate tech developer of advanced materials made from waste, announced it has closed $70 million in funding, led by Eden Global Partners. Additional participants in the financing were return investors in the company, including TPG Rise Climate, TPGâs Rise Fund, Battery Ventures, and M&Gâs Catalyst strategy.
The investment will support the companyâs commercial, sales, and marketing scale up, as UBQ Materials continues its global expansion. This will include additional facilities in Europe and North America, alongside the impending opening of UBQâs industrial-scale facility in Bergen Op Zoom, Netherlands. The new facility will have an annual production capacity of 80,000 tons of UBQâ˘, converting 104,600 metric tons of waste annually into a new raw material.
UBQ Materialsâ bio-based thermoplastic, UBQâ˘, serves as a sustainable alternative to fossil-based plastics. UBQ Materials converts residual household waste diverted from landfills or incineration, including all organics, into an advanced thermoplastic material that is both climate-positive and highly recyclable. Leading industry brands have already integrated UBQ⢠into durable and semi-durable products such as car parts, footwear, pallets, display stands, panels and planters, with customers including Mercedes-Benz, PepsiCo, and McDonaldâs.
Proemion Announces âŹ33.5M Growth Investment from Global Technology Investment Firm Battery Ventures
Proemion, the multinational technology company creating hardware-enabled software solutions to connect mobile machines with humans, the cloud, and each other, today announced a âŹ33.5M growth investment from Battery Ventures, the global technology-focused investment firm. In July, Battery announced new, global funds capitalized at a combined $3.8B.
Family-owned since its founding in 1987, Proemion creates connectivity solutions with proprietary telematics control units and accompanying cloud-based software. Proemion customers include original equipment manufacturers (OEMs) and mixed-fleet companies who use Proemionâs telematics solutions to operate machinery more efficiently through the use of remote diagnostics and analytics. Specifically, the technology allows customersâwho operate in industries including construction, agriculture, logistics, and natural resourcesâto better manage equipment, plan maintenance, save fuel costs, monitor CO2 emissions, and more. The predictive capabilities of Proemion telematics allow global customers to increase productivity with robust, cloud-based remote diagnostics while reducing operational costs and downtime.
With this growth investment from Batteryâand anticipated future capital infusions from Battery and the foundersâProemion will expand international operations, execute other organic-growth initiatives and pursue acquisitions. As part of this transition, Robert Thomas Michaelides, current Proemion COO, will assume the role of chief executive officer.
Shippeo Announces Record $40m Funding Round to Accelerate Global Supply Chain Resilience
All existing investors took part in the new round, including Battery Ventures, Partech, NGP Capital, ETF Partners, Bpifrance Digital Venture and SAP.io, alongside new strategic investors Hong Kong-based LFX Venture Partners and Japan-based Yamaha Motor Ventures, whose investment will help to ramp up operations across Asia-Pacific.
The investments will support Shippeoâs mission to help shippers and carriers run more collaborative, automated, sustainable, profitable, and customer-centric supply chains, leveraging global partner networks, real-time data and AI to enable greater ecosystem collaboration. Regarded by many companies as the heart of their operations, supply chains can now benefit from highly accurate, real-time operational visibility and perfect workflow orchestration, which have become crucial for overcoming the unprecedented challenges, uncertainty, and financial fallout from disruption that organizations continue to face.