Tel Aviv, Israel – Robert Bosch Venture Capital GmbH (RBVC), the corporate venture capital company of the Bosch Group, has completed an investment in Veego’s seed round. SOMV is leading the USD 5 million round that also includes participation by N1V. Veego develops breakthrough technology for eliminating malfunctions in the connected home and Internet of Things (IoT) environments. It aims to be the market leader in IoT support and troubleshooting, a multi billion dollar market, providing agnostic visibility into IoT networks and connected devices. “We see the market for IoT support in the connected home growing considerably over the next several years”, says Dr. Ingo Ramesohl, Managing Director of RBVC. “Veego’s innovative technology can be a game-changer for customer service and IoT device manufacturers.”
About Bosch Ventures
Robert Bosch Venture Capital GmbH (Bosch Ventures) is the corporate venture capital company of the Bosch Group, a leading global supplier of technology and services. Bosch Ventures invests worldwide in innovative start-up companies at all stages of their development. Its investment activities focus on technology companies working in areas of business of current and future relevance for Bosch, above all, automation and electrification, climate technologies, enabling technologies, and healthcare systems. Bosch Ventures also invests in services and business models that are relevant to the above-mentioned areas of business. Furthermore, Bosch Ventures enables co-innovation between Bosch and startups through the Open Bosch Program.
Additional information is available online at: www.bosch.ventures
About Veego
Things break. And billions of connected IoT devices break a lot. And for many reasons.
Across the entire connected-home ecosystem, Veego delivers device and network-performance information to service teams, developers and integrators. We automatically an agnostically solve connected-home problems such as hardware and software, configuration and setup, complex integration, device and network load and environmental effects. Veego autonomously detects, analyzes and repairs malfunctions even before customers encounter them.The breakthrough technology converts Iot-device support from a costly, lengthy and frustrating encounter into a true game-changer that boosts the reputations of ISPs, smart hub providers and smart-home device manufacturers while cutting support costs and enhancing customer satisfaction with the complex connected home. www.veego.io
The Bosch Group is a leading global supplier of technology and services. It employs roughly 417,900 associates worldwide (as of December 31, 2024). According to preliminary figures, the company generated sales of 90.5 billion euros in 2024. Its operations are divided into four business sectors: Mobility, Industrial Technology, Consumer Goods, and Energy and Building Technology. With its business activities, the company aims to use technology to help shape universal trends such as automation, electrification, digitalization, connectivity, and an orientation to sustainability. In this context, Bosch’s broad diversification across regions and industries strengthens its innovativeness and robustness. Bosch uses its proven expertise in sensor technology, software, and services to offer customers cross-domain solutions from a single source. It also applies its expertise in connectivity and artificial intelligence in order to develop and manufacture user-friendly, sustainable products. With technology that is “Invented for life,” Bosch wants to help improve quality of life and conserve natural resources. The Bosch Group comprises Robert Bosch GmbH and its roughly 470 subsidiary and regional companies in over 60 countries. Including sales and service partners, Bosch’s global manufacturing, engineering, and sales network covers nearly every country in the world. Bosch’s innovative strength is key to the company’s further development. At 136 locations across the globe, Bosch employs some 86,900 associates in research and development, of which nearly 48,000 are software engineers.
Additional information is available online at www.bosch.com, www.iot.bosch.com, www.bosch-press.com.