Today, Ruvento is announcing a new $25 million seed money for hardware startups in need of capital fromSingapore, China and theU.S. The money, managedby Slava Solonitsyn andAlex Toh, will write 70 percent of its checks between $100 k and $500 k.The remainder of the capital will be set aside for follow-on investments of up to$ two million.
Ruvento is not the first investor to take a cross-boarder approach to the hardware space. HAX, among others, has a large accelerator presence in Shenzhen. Meanwhile, italso operates a separate program in the United States for post-accelerator startups that already have their preliminary furnish chains figured out.
Ruvento is particularly interested in infrastructure hardware. Specifically, the team believes there is a lot of untapped potential around IOT and sensor integratings. The firm also cites commercial applications of drones and robotics as areas of interest and plans to keep its eyes onstartupscreatively leveragingadvancements in virtual reality and augmented reality to solve problems.
Hardware shouldnt meangimmicks , noted Slava Solonitsyn, managing partner of Ruvento.We are not investing in things you dont need.
The innate properties of Asia willplay an integral role in Ruventos investment strategy.In a place like Singapore for example, 12 percent of the limited land mass is used for roads. This is a huge incentive for investment in alternate methods of transportation like cycling and connected cars that is unique to the region. Singapore was the first testing ground of nuTonomy, a self-driving automobile company that beat Uber to real-world road tests of autonomous technologies.
We see startups in Asia already putting innovative last-mile delivery alternatives on the street because there arefewerregulatory obstacles, added Solonitsyn.