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Siemens Invests $100M in New Manufacturing Systems; Siegfried Russwurm Comments

Siemens logoSiemens’ (NYSE: SI) corporate financing arm has moved to help startup businesses further efforts to develop manufacturing technologies through a new $100 million fund, TechCrunch reported Monday.

Pankaj Mishra writes Siemens Venture Capital intends to finance firms that develop industrial automation systems and to facilitate alliances among companies in order to seek new markets.

Siegfried Russwurm, CEO of Siemens’ industry sector, said Siemens intends to fund initiatives to build fresh technologies and disrupt the manufacturing landscape through the company’s Industrie 4.0 strategy, according to the report.

Siemens previously invested in three-dimensional visualization provider Lagoa and cybersecurity software developer CounterTack.

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