Chrysalix Venture Capital has announced the second close of its Chrysalix RoboValley Fund.
The Chrysalix RoboValley Fund invests in Industry 4.0 applications that improve industrial processes, resource efficiency and environmental sustainability in industries such as energy, mining, mobility, construction, chemicals and materials, and manufacturing.
New investors Caterpillar Inc., J-POWER, and South32 are joining existing investors in the fund which include PETRONAS, Mitsubishi Corporation, and Hyundai Motors.
“We are delighted to attract such strong corporate investors who are leaders in their respective industries to the Chrysalix RoboValley Fund,” said Richard MacKellar, Managing Partner at Chrysalix Venture Capital in Vancouver, Canada. “Working closely with our strategic investors, we are looking forward to identifying transformational solutions and building a portfolio of great technology companies.”
The Chrysalix RoboValley Fund has established strong industry clusters, particularly around mining and metals, oil and gas, and engineering and construction.
The fund invests in innovations that drive the energy transition and decarbonization, and can be enhanced by the application of intelligent systems such as AI, data analytics, sensors & components, IoT, robotic systems and blockchain.
The fund’s first investments were made earlier this year in Feasible Inc., developers of a breakthrough battery intelligence platform; Applied Impact Robotics, winner of our first Incentive Challenge in partnership with PETRONAS; and Envisioning Labs, developers of a smart mining solution for comminution.
With this second close, the Chrysalix RoboValley Fund is nearing its target size of USD $120 million and is supported by Chrysalix’s expanding presence in Europe, as well as the firm’s unique academic network and vibrant start-up ecosystems. This is Chrysalix’s second fund focused on intelligent systems and industrial innovation for resource intensive industries.