Element Raises $18 Million to Enable Data-Driven Transformation of Industrial Enterprises
Summary
With total funding of $40 million since its inception, Element is delivering on its mission of enabling organizations to efficiently connect, transform and share industrial data. “We’re pleased to expand our relationship as an investor in Element’s Series B funding round, and as an AssetHub innovation partner closely collaborating with Element as we move to the next important phases in our digital transformation,” said Bernhard Mohr, Head of Evonik Venture Capital. With offices in San Francisco and Philadelphia, the firm partners with entrepreneurial management teams in high growth companies using technology to transform large industrial markets making the world more efficient, intelligent and sustainable. Initial investments generally range between $1-3 million and typically include participation from leading corporate strategic partners as co-investors. EVC has offices in Germany, the U.S.A. and China, and invests in innovative companies with disruptive technologies and high growth potential in the fields of Additive Manufacturing, Advanced Food Ingredients, Cosmetic Solutions, Healthcare Solutions, Membranes and Sustainable Nutrition, as well as Enabling Digital Technologies.
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