NEVA INVESTS IN CORETIGO
FOR THE INDUSTRY 4.0 WIRELESS REVOLUTION
- CoreTigo is a world leader of the deterministic industrial wireless communications for factory automation.
- Mario Costantini: “We are excited about the investment of our Neva First fund in CoreTigo and we expect a significant contribution on the performance of our portfolio. Through this investment we are proud to connect the Italian manufacturing industry with CoreTigo, a leader in the development of the Industrial Internet of Things.”
- Eran Zigman: “We are proud to be part of Neva’s portfolio. The Italian ecosystem of machine builders and manufacturers is the perfect match for CoreTigo’s technology and the collaboration with Neva will accelerate our acceptance into this market.”
Turin – 14th February 2023 – Neva SGR, the Intesa Sanpaolo Group venture capital company wholly owned by Intesa Sanpaolo Innovation Center, through its Neva First Fund has finalised an investment in CoreTigo, a highly innovative world-leader in the revolution of deterministic wireless communications for industrial automation, a pivotal sector for Industry 4.0.
By reinventing existing network and connectivity concepts, CoreTigo reduces the complexity of industrial automation systems through solutions that make the production environment more flexible, allow more data to be accessed and transmitted wirelessly, and increase operational efficiency. CoreTigo's technology is based on the IO-Link Wireless standard and provides machine builders, automation equipment manufacturers, and system integrators with the tools to create, in the most reliable and cost-effective way, more connected production environments that are no longer constrained by wires. CoreTigo extends connectivity throughout the factory, making it possible to realize the full potential value of the Industry 4.0 revolution.
Intesa Sanpaolo has for many years kept its focus on the ecosystem of Israeli innovation and with the Intesa Sanpaolo Innovation Center and Neva SGR constantly participates in the main initiatives dedicated to new technologies, pursued in the country. The relations established allow the Bank to make the most of the opportunities as they arise to strengthen customer services and, at the same time, to be a point of reference for Italian companies wanting to come into contact with some of the world’s most innovative companies.
“We are excited about the investment of our Neva First fund in CoreTigo and we expect a significant contribution on the performance of our portfolio. Through this investment we are proud to connect the Italian manufacturing industry with a leader in the development of the Industrial Internet of Things”, explains Mario Costantini, CEO and General Manager of Neva SGR. “Israel is central to the development of the investment strategy of Neva SGR, which collaborates with the main venture capital funds to invest in Israeli companies that can have a positive impact on the Italian economy and generate major returns on investment for investors in the funds managed. Since January 2022, through our Neva First Fund, we have invested more than €23 million in six Israeli companies operating in various sectors, from IT to cybersecurity, from quantum computing to agri-food tech.”
“Neva’s investment in CoreTigo is a validation of the innovative spirit demonstrated by the Italian industrial automation market. CoreTigo expands the industrial automation market to wireless with real-time solutions that enable control while in motion. We are proud to be part of Neva’s portfolio. The Italian ecosystem of machine builders and manufacturers is the perfect match for CoreTigo’s technology and the collaboration with Neva will accelerate our acceptance into this market”, explains Eran Zigman, Co-Founder and CEO of CoreTigo.
Media Relations
Intesa Sanpaolo
Corporate & Investment Banking and Governance Areas
stampa@intesasanpaolo.com
Last updated 14 February 2023 at 11:40
