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Caterpillar Ventures

North America, California, United States, Menlo Park

Description

Caterpillar Ventures is the strategic venture capital arm of Caterpillar Inc., the world's leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and locomotives. Established to identify and invest in innovative startups, Caterpillar Ventures plays a crucial role in advancing technologies that align with Caterpillar's core business and future strategic direction. Based in Menlo Park, California, the fund leverages Caterpillar's extensive industry expertise, global reach, and customer base to provide significant value beyond capital to its portfolio companies.

The fund's investment thesis centers on supporting companies that are developing disruptive technologies and solutions relevant to the industrial, construction, and resource industries. Their primary areas of interest include digital technologies such as the Internet of Things (IoT), artificial intelligence (AI), machine learning, and advanced analytics, which can enhance equipment performance, operational efficiency, and customer experience. Additionally, they focus on robotics, automation, advanced materials, energy solutions, and sustainable technologies that can drive innovation across Caterpillar's product lines and services. The strategic alignment with Caterpillar's long-term vision is a key criterion for their investment decisions.

Caterpillar Ventures typically invests in early to growth-stage companies, primarily participating in Seed, Series A, and Series B rounds. While specific check sizes can vary based on the opportunity and stage, their initial investments generally range from $1 million to $5 million, reflecting their commitment to meaningful participation in promising ventures. Beyond capital, portfolio companies gain access to Caterpillar's vast resources, including potential commercial partnerships, technical expertise, manufacturing capabilities, and global distribution networks. This strategic support aims to accelerate the development and market adoption of new technologies, providing a clear path to scale. As of early 2024, Crunchbase indicates Caterpillar Ventures has made over 25 investments and has seen several successful exits, demonstrating its active role in the venture ecosystem.

Investor Profile

Caterpillar Ventures has backed more than 27 startups, with 0 new investments in the last 12 months alone. The firm has led 7 rounds, about 26% of its total and boasts 9 exits across its portfolio.

Investment Focus Highlights

  • Concentrates on Series B, Series Unknown, Series A rounds (top funding stages).
  • Majority of deals are located in United States, Canada, Kenya.
  • Strong thematic focus on Manufacturing, Software, Industrial Automation.
  • Typical check size: $1M – $5M.

Stage Focus

  • Series B (37%)
  • Series Unknown (30%)
  • Series A (15%)
  • Series D (7%)
  • Post Ipo Equity (7%)
  • Series C (4%)

Country Focus

  • United States (67%)
  • Canada (15%)
  • Kenya (7%)
  • Australia (4%)
  • Israel (4%)
  • United Kingdom (4%)

Industry Focus

  • Manufacturing
  • Software
  • Industrial Automation
  • Robotics
  • Automotive
  • Energy
  • Wearables
  • Battery
  • Internet Of Things
  • Aerospace
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FAQ

Frequently Asked Questions

Learn who this investor regularly partners with—both firms and angels—and explore their latest activity.

Who does Caterpillar Ventures frequently co-invest with?

SLB
North America, Texas, United States, Houston
Co-Investments: 3
Cottonwood Technology Fund
North America, New Mexico, United States, Santa Fe
Co-Investments: 4
Prelude Ventures
North America, California, United States, San Francisco
Co-Investments: 3
Equinor Ventures
Europe, Rogaland, Norway, Stavanger
Co-Investments: 2
AR
North America, Oklahoma, United States, Tulsa
Co-Investments: 2
Riverstone Holdings
North America, New York, United States, New York
Co-Investments: 2
Eclipse Ventures
North America, California, United States, Palo Alto
Co-Investments: 2
GE Ventures
North America, California, United States, Menlo Park
Co-Investments: 4
Export Development Canada
North America, Ontario, Canada, Ottawa
Co-Investments: 2
Microsoft
North America, Washington, United States, Redmond
Co-Investments: 2

Which angels does Caterpillar Ventures often collaborate with?

FS
North America, Utah, United States, Salt Lake City
Shared Deals: 1
BW
North America, Texas, United States
Shared Deals: 1
Shared Deals: 1
FP
North America, Texas, United States, Houston
Shared Deals: 1
Shared Deals: 1
Shared Deals: 1
Shared Deals: 1

What are some of recent deals done by Caterpillar Ventures?

MagnusMetal

Rehovot, HaMerkaz, Israel

MagnusMetal offers digital casting solutions for metal alloys.

Machinery ManufacturingManufacturing
Series BApr 18, 2024
Amount Raised: $74,000,000
Nth Cycle

Beverly, Massachusetts, United States

Nth Cycle is a metal processing technology company working with battery recyclers and miners to recover production-grade critical minerals.

BatteryElectronicsManufacturingMiningRecycling
Series BDec 4, 2023
Amount Raised: $37,000,000
Novarc Technologies

North Vancouver, British Columbia, Canada

Novarc is a robotics company specializing in the design and commercialization of collaborative robots for industrial applications.

Industrial EngineeringManufacturingMechanical EngineeringRobotics
Series AAug 14, 2023
Amount Raised: $20,000,000
Infinitum

Round Rock, Texas, United States

Infinitum is setting the bar for the next generation of motors to be better for the planet – and for people.

AutomotiveIndustrial AutomationInternet of ThingsManufacturing
Series DNov 8, 2022
Amount Raised: $30,000,000
Connected Energy

Newcastle Upon Tyne, Newcastle upon Tyne, United Kingdom

A pioneer of 2nd life electric vehicle battery based energy storage systems.

BatteryElectric VehicleEnergyEnergy ManagementEnergy StoragePower GridRecyclingRenewable Energy
Series UnknownJun 17, 2022
Amount Raised: $18,329,991
Infinitum

Round Rock, Texas, United States

Infinitum is setting the bar for the next generation of motors to be better for the planet – and for people.

AutomotiveIndustrial AutomationInternet of ThingsManufacturing
Series DMay 17, 2022
Amount Raised: $80,000,000
BrightVolt

Redmond, Washington, United States

BrightVolt is an innovative manufacturer of solid state thin & flexible lithium polymer batteries and power efficient thin & flexible.

BatteryElectronicsManufacturing
Series BOct 6, 2021
Amount Raised: $16,000,000
Sarcos Technology and Robotics Corporation

Salt Lake City, Utah, United States

Sarcos is a robotics company that specializes in developing wearable and teleoperated industrial robotics.

AerospaceIndustrial AutomationRoboticsWearables
Post Ipo EquitySep 27, 2021
Amount Raised: $220,000,000
Infinitum

Round Rock, Texas, United States

Infinitum is setting the bar for the next generation of motors to be better for the planet – and for people.

AutomotiveIndustrial AutomationInternet of ThingsManufacturing
Series UnknownAug 19, 2021
SeekOps

Austin, Texas, United States

SeekOps develops gas sensing technology and data solutions to provide end-to-end GHG emissions reporting to energy customers.

EnergyEnergy StorageOil and Gas
Series BJul 1, 2021
Amount Raised: $14,000,000