Hitachi Construction Machinery, a world-leading manufacturer of construction and mining equipment, has made a new investment in the Chrysalix RoboValley Fund.
Vancouver’s Chrysalix Venture Capital is a technology focused venture capital firm that builds, mentors and connects high growth companies. Chrysalix latest fund, the Chrysalix RoboValley Fund, is the firm’s second fund under management focused on industrial innovation.
Hitachi Construction Machinery joins an established cluster of mining and metals investors in the fund and will leverage Chrysalix’s extensive network in the mining field to strengthen open innovation by connecting with startups that possess the latest technologies for mining in areas such as robotic systems, IoT, AI and data analytics.
“Chrysalix has made step-change innovations in the metals and mining, manufacturing and machinery industries, through digital solutions and advanced robotics technologies, a major theme of our fund and we are delighted to welcome Hitachi Construction Machinery to the Chrysalix RoboValley Fund,” said Alicia Lenis, Vice President at Chrysalix Venture Capital.
The Chrysalix RoboValley Fund seeks to achieve significant returns for its investors by enabling resource intensive industries, including energy, mining, construction, infrastructure and mobility, to tap into innovation from high growth startups.
Investors in the fund include Fortune 500 companies, leading corporates, financial institutions, family offices and universities, and a notable cluster of metals and mining players, such as South32, Severstal and Mitsubishi Corporation.