The three R’s driving Digital Industry
Welcome to our Momenta quarterly newsletter: Digital Delivered. We’ve had a busy Q3, as our Digital Industry investments + growth efforts continue to be driven by macro trends and disruptions.
As our readers will know, the past 24 months have accelerated digitization efforts across our key sectors of Energy, Manufacturing, Smart Spaces, and Supply Chain/Transportation. We’ve recently started to call these key trends the ‘three R’s: Remote asset management, Resilience, and Renewables
Remote Asset Management has long since been the killer use case for IoT / IIoT, providing for remote monitoring, management, and maintenance of critical field equipment (think water utility pumps, electrical transformers, or even jet engines). With the pandemic, such asset management quickly went from a nice-to-have requirement to a mission-critical one as people were unable to physically travel to the equipment.
Resilience is a comprehensive term often used to refer to sustainable and reliable manufacturing and supply chains. The is often also referred to as ‘Reshoring’ or simply ‘Shoring.’ When the Ever Given blocked the Suez Canal for six days in March of 2021, it quickly demonstrated the fragility of global supply chains and off-shore manufacturing.
Renewables, while a long-standing trend, has also quickly raised in importance, especially in Europe, where Russia’s illegal occupation of Ukraine and weaponification of energy is driving a rapid move to clean and often renewable energy sources to remove global dependence from Russia.
We’ve already seen a solid uptick across our portfolio and growth efforts, from up-rounds of Axiom Cloud, Edge Impulse, EquipmentShare, Freewire, and Litmus, to name a few, and we are doubling down on new investments in pinch point technology companies such as Agtonomy, Overview.ai, Raven.ai, and Shoreline IoT.
We don’t see this slowing down as Remote Asset Management ushers in autonomous operations, Resilience expands to food and water security, and Renewables increasingly include ‘circular’ production of goods. When it comes to making meaningful and long-lasting change, we're just getting started.
Momenta is the leading Digital Industry venture capital firm accelerating digital innovators across energy, manufacturing, smart spaces, and supply chain. Led by deep industry operators across its venture capital, strategic advisory, and executive search practices, Momenta has made over 50 investments with notable exits to SAP, PTC, and Husqvarna.
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