Stuttgart, Germany – Robert Bosch Venture Capital GmbH (RBVC), the corporate venture capital company of the Bosch Group, has purchased a significant amount of IOTA tokens, one of the largest cryptocurrencies in the world. RBVC also intends to elevate the technology to maturity by bringing it closer to Bosch’s global ecosystem and key partners. “Distributed ledger technology will play an important role in the industry of tomorrow,” said Dr. Ingo Ramesohl, Managing Director at RBVC. “Bosch is one of the pioneers actively driving the adoption of distributed ledger technology in the automotive and Internet of Things (IoT) industry. The investment in IOTA’s token, the first ever token investment of RBVC, will help us working closely with the IOTA Foundation to explore the industrialization of this exciting technology.” RBVC’s investment broadens the potential for new business models for the IoT in any number of verticals and uniquely positions IOTA and Bosch to take on the challenges of IoT together. Dr. Hongquan Jiang, Partner at RBVC, will join the IOTA Foundation’s advisory board. The investment follows the successful launch of IOTA’s data marketplace, with more than 30 leading companies worldwide participating.
Robert Bosch Venture Capital GmbH (RBVC) is the corporate venture capital company of the Bosch Group, a leading global supplier of technology and services. RBVC 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, energy efficiency, enabling technologies, and healthcare systems. RBVC also invests in services and business models that are relevant to the above-mentioned areas of business. Furthermore, RBVC enables co-innovation between Bosch and startup through the Open Bosch Program.
Additional information is available at www.rbvc.com
The Bosch Group is a leading global supplier of technology and services. It employs roughly 421,000 associates worldwide (as of December 31, 2022). The company generated sales of 88.2 billion euros in 2022. Its operations are divided into four business sectors: Mobility, Industrial Technology, Consumer Goods, and Energy and Building Technology. As a leading IoT provider, Bosch offers innovative solutions for smart homes, Industry 4.0, and connected mobility. Bosch is pursuing a vision of mobility that is sustainable, safe, and exciting. It uses its expertise in sensor technology, software, and services, as well as its own IoT cloud, to offer its customers connected, cross-domain solutions from a single source. The Bosch Group’s strategic objective is to facilitate connected living with products and solutions that either contain artificial intelligence (AI) or have been developed or manufactured with its help. Bosch improves quality of life worldwide with products and services that are innovative and spark enthusiasm. In short, Bosch creates technology that is “Invented for life.” 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. With its more than 400 locations worldwide, the Bosch Group has been carbon neutral since the first quarter of 2020. The basis for the company’s future growth is its innovative strength. At 136 locations across the globe, Bosch employs some 85,500 associates in research and development, of which nearly 44,000 are software engineers.
Additional information is available online at www.bosch.com, www.iot.bosch.com, www.bosch-press.com, www.twitter.com/BoschPress.
