Corporate Venture Capital | November 21, 2022

Schneider Electric commits €500 million for climate and industrial tech

Roodgally Senatus
ImpactAlpha Editor

Roodgally Senatus

ImpactAlpha, November 21 — French electrical equipment maker Schneider Electric launched SE Ventures, its corporate venture capital arm, with an initial €500 million ($516.3 million) in 2018. Schneider is committing an additional €500 million to invest in climate tech, industrial AI, mobility, proptech and cybersecurity.

“We live in a world that’s facing crises on three fundamental levels: energy, economy and climate,” said Schneider’s Nadège Petit. “There’s never been a greater need for transformation, or a greater opportunity for positive impact – impact that we create by innovating in three fundamental ways: electrification, digitalization and decarbonization.” SE Ventures will begin deploying the fund in January.

Corporate impact

SE Ventures has backed seven venture funds and more than 40 startups. Portfolio companies include Cambridge, Mass.-based Sense, which helps homeowners monitor energy usage in real-time; and AiDash, a San Jose-based company that forecasts storm and wildfire damages for utilities, energy companies and municipalities. GreenStructure, a joint venture between Schneider Electric and impact investor Huck Capital, covers upfront costs for large building owners to transition to clean energy.