mcrock e2ip in the news

McRock portfolio company acquired by E2IP Technologies

We are excited to announce that e2ip Technologies (e2ip), a Montreal-based Human-Machine Interface (HMI) and Smart Surface solutions innovation leader, has acquired Arizona-based Serious Integrated Inc. (Serious), a leading provider of industrial, medical, and commercial touch screen HMI-IIoT solutions. As part of the acquisition, McRock has taken a minority ownership position in e2ip.

e2ip and Serious were introduced by McRock and have been working together for over a year as strategic partners to create and deliver innovative solutions to global market leaders. This acquisition will enable e2ip to invest in and support the scalable growth of Serious Integrated technologies and solutions.

“e2ip has a broad portfolio of Smart Surface and HMI technologies and solutions”, said Eric Saint-Jacques, CEO of e2ip. “Our medical, industrial, aerospace and transportation industry customers are global leaders in their markets and are constantly seeking optimal HMI solutions and breakthrough innovations. The addition of the Serious team, technology portfolio and solutions in the embedded systems, LCD, touch screen applications and hardware integration fields will create greater value for our customers by expanding the breadth of our capabilities.”

Increasing global competition and demand for leading-edge products create a greater need for companies to find innovative differentiation in their products. Touch screens are a key HMI technology bridging the gap between functionality and user experience. Widely integrated into consumer electronics, they are now being broadly adopted to improve visualization, increase worker productivity and make operations more efficient by providing a simpler and more efficient interactive experience with business devices and equipment.

“We’re thrilled to become part of e2ip”, said Terry West, Founder and CEO of Serious. “e2ip’s cost effective, global and high-quality manufacturing footprint combined with their top-tier multinational customer relationships bring the Serious portfolio onto the world stage with immense possibilities for integrated Smart Surfaces. Serious was founded with the goal of delivering innovative HMI and IIoT experiences and the combined forces of e2ip and Serious promise to deliver truly breakthrough value for customers.”


mcrock jan 2021 mcrock capital promotes udit

McRock Capital Promotes Udit Bhatnagar to Vice President

Toronto, Ontario–(January 13, 2021) – McRock Capital, a leading venture capital fund manager investing  exclusively in the Industrial Internet of Things (IoT), announced today it has promoted Udit Bhatnagar to  the position of Vice President.  

Udit joined McRock in late 2018 as an Associate on the investment team. Udit will increase his  responsibility around the deployment of McRock’s most recent $112 million venture fund while  continuing to provide portfolio growth and exit strategy assistance to McRock’s inaugural $70 million  fund. Along with this promotion, Udit has been appointed as an Observer on the board of Barcelona-based  Worldsensing. 

“At McRock, we believe in an inclusive workplace and promoting from within,” said Whitney Rockley, Co founder & Managing Partner at McRock Capital. “Udit’s international background, work ethic and passion  for venture capital embodies McRock’s value of bringing diverse perspectives to our firm.” 

Udit moved to Canada in 2018 from India where he was leading the due diligence team at Keiretsu Forum.  Before he discovered his passion for venture capital, he spent many years in the technology sector working on key products and services from companies like Infosys and Danske bank in Spain, Denmark, and Japan.  His international career has helped him in developing a global perspective and deep understanding of  technology driven impact in diverse sectors. 

Udit’s enthusiasm for investing in the Industrial technology space is driven by his engineering background  and desire to create big impact on large industries. Udit holds an MBA degree from IE Business School in  Spain and an undergraduate degree in industrial engineering from VTU in India. Udit speaks English, Hindi  and Spanish.  

About McRock Capital – McRock is the first dedicated Industrial Internet of Things (IIoT) venture capital  fund manager focused on the intersection of sensors and software in large industrial markets and smart  cities. The McRock team has a unique background of building high-growth venture-backed IIoT companies  while also having worked in the power, water, oil and gas industries. McRock is backed by several leading  institutional investors and global corporations including Cisco Systems, Caterpillar, Shell, Mitsubishi,  AspenTech and Électricité de France (EDF). For more information, visit and follow on  Twitter @McRockCapital.

mcrock dec 2020 dare i use the b word

Dare I use the “B” Word

It is the end of December and the weather is grey. I look out the window from my makeshift home office with a green screen behind me and a big bright light in front of me while I type on my laptop which sits on my homemade games table of cribbage, backgammon, and checkers. Who would have thought that this is how many of us would be ending 2020…nine months of lockdown and still counting?

We all knew there had to be a global market correction because the world has been on a tear. Our investors had been cautioning us since 2017 but no one would have guessed it would be a pandemic that would reshape how we live, work and play. Did I actually write “play”?

At the beginning of the pandemic, I thought the irrational hype of tech would subside like it did in the two previous recessions I had lived through as an adult. I could not have been more wrong. The irrational hype of tech has only accelerated.

Competition for deals was higher than I have ever witnessed in my career. Entrepreneurs, especially in California, had more swagger and ego than before, which I thought was incomprehensible.  

Valuations soared. It has been the year of irrational exuberance on steroids for the tech sector.

But the question I keep asking myself is whether it is a “B”ubble or a new era of how we use tech to live, work and stay connected? There…I cut out the word “play”.   

I believe the world will continue on its torrent path of using tech. I also believe the longer this pandemic lasts, the more entrenched and reliant we will be on tech to remotely monitor, manage, and control our operations. It is not to say that we will never be there in-person, but this pandemic is providing us with software alternatives that help us operate better and keep production up, even from afar. 

I believe the acquisition of tech companies will soar in 2021 and it will be known as the year of acquisitions. This will not just be the acquisition of tech companies but the acquisition of many large super incumbents in traditional businesses. The reshaping and reemergence of companies and industries will be fascinating. 

Many are predicting that the 2020’s will be the liveliest decade of our lives. This prediction comes from examining the decade after the Spanish Flu subsided. The roaring 1920’s was a decade to live large and unabated. This was arguably the decade where real risk taking emerged in the Industrial Era.

I do not believe we will be living lively in 2021 or even 2022 but I do believe what we do in the next few years is setting the stage to live lively for the remainder of the decade. The race is on and what we are witnessing is an acceleration and reshaping of economies and markets. In other words, this is not a bubble. We are entering an accelerated Digital Era that is impacting every industry on earth.

Author: Whitney Rockley, Co-Founder & Managing Partner of McRock Capital

mcrock oct 2020 praemo raises $4.5m pic square

Praemo Raises CAD $4.5 Million from McRock, Caterpillar Venture Capital and BDC Capital’s Industrial Innovation Venture Fund

Toronto, Ontario–(October 9, 2020) – McRock iNFund LP, an Industrial Internet of Things (IIoT) venture  capital fund managed by McRock Capital, announced today it has increased its investment in Kitchener based Praemo Inc., an innovative prescriptive analytics company that provides AI-based solutions for  industrial operations. Caterpillar Venture Capital Inc. and BDC Capital Inc.’s Industrial Innovation Venture  Fund co-invested in this financing. 

Praemo’s Razor™ technology harnesses the power of machine learning to provide prescriptive insights to dramatically improve productivity, safety and quality in industrial operations. Praemo combinesits unique  expertise in industrial asset and process performance management with data science to deliver learned  machine behaviour which automatically generates actionable recommendations in real-time. 

“We are excited to be working with Caterpillar Venture Capital Inc. and BDC Capital Inc.’s Industrial  Innovation Venture Fund, and to expand our relationship with McRock. This group of investors speaks to  the value Praemo brings to industrial operators; McRock as a leader in the industrial IoT technology space,  BDC Capital as a key shareholder providing the capital needed to drive this next wave of advancement,  and Caterpillar Venture Capital Inc., a wholly-owned subsidiary of Caterpillar Inc., the world’s leading  manufacturer of construction and mining equipment, engines, turbines and locomotives.”, said Michael  Martinez, co-founder and CEO at Praemo. “This additional funding allows us to accelerate our technology  roadmap while sharing our customers’ successes more broadly across the industrial marketplace.”

Caterpillar: Confidential Green 

“Praemo not only identifies real-time machine anomalies, but even more importantly, sends prescriptive  alerts so that the appropriate preventative action can be quickly taken”,said Whitney Rockley, Co-founder  and Managing Partner at McRock. This capability is catching the attention of large industrial operatorslike  Caterpillar that are looking for a solution that does more than just tell them they have a problem 

developing. It also tells them how to best fix that emerging problem”, said Whitney Rockley who continues  to serve as the Chair of Praemo’s Board of Directors.  

“Caterpillar Venture Capital’s investment illustrates a recognition that prescriptive analytics will play an  integral role in the growth of Caterpillar’s services business,” said Michael Young, Vice President of  Caterpillar Venture Capital Inc. 

“Praemo has managed to distinguish itself from other industrial IoT players in the field in part because,  the company developed the RazorTM engine based on many years of toiling in the Industrial asset  operations vertical. They were quick to leverage lean asset management strategies, which allow for a  quicker time to value”, said Joe Regan, Managing Partner, Industrial Innovation Venture Fund at BDC  Capital.  

“Combining this with machine learning, Razor™ is helping operators to drive true, sustainable operations,  through real time actionable insights”, said Aditya Aggarwal, Principal with the Industrial Innovation  Venture Fund which will be an observer on Praemo’s Board of Directors. 

About Praemo – Praemo is creating a future without disruptions by quickly extracting value hidden in  industrial IoT and production data organizations already have and turning it into actionable insights without consuming the bandwidth of operations or data science teams. Founded by industry experts,  Razor™ was developed utilizing real-world experiences, and leverages Artificial Intelligence/Machine  Learning to provide a non-intrusive solution for our customers – an AI-Mentor looking for any opportunity  to improve performance. For more information, please visit and follow us on LinkedIn

About McRock Capital – McRock is the first dedicated Industrial Internet of Things (IIoT) venture capital  fund manager focused on the intersection of sensors and software in large industrial markets and smart  cities. The McRock team has a unique background of building high-growth venture-backed IIoT companies  while also having worked in the power, water, oil and gas industries. McRock is backed by several leading  institutional investors and global corporations including Cisco Systems, Caterpillar, Shell, Mitsubishi,  AspenTech and Électricité de France (EDF). For more information, visit and follow on  Twitter @McRockCapital. 

About Caterpillar Venture Capital Inc. — Caterpillar Venture Capital Inc. assists entrepreneurs around the  world to grow and scale their businesses to build today for a better tomorrow by leveraging Caterpillar’s  industry expertise, supply base and independent dealer network. Caterpillar Venture Capital’s focus areas  of investment include robotics, energy, advanced materials, and digital solutions that help its customers  be successful. Caterpillar Venture Capital is a wholly owned subsidiary of Caterpillar Inc., the world’s  leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial  gas turbines and diesel-electric locomotives. For more information, visit Caterpillar Ventures. 

About BDC Capital Inc. – BDC Capital is the investment arm of BDC- Canada’s only bank devoted  exclusively to entrepreneurs. With over $3 billion under management, BDC Capital serves as a strategic 

Caterpillar: Confidential Green partner to the country’s most innovative firms. It offers a full spectrum of risk capital, from seed  investments to transition capital, supporting Canadian entrepreneurs who wish to scale their businesses  into global champions. Visit .

mcrock sept 22 2020 mcrock joins clearpath

Clearpath Robotics Moves Towards Creating a More Inclusive Workplace with Diverse Board Appointments

Focus on diversity will improve performance, innovation and employee experience 

Kitchener, ON, October 7, 2020 — Clearpath Robotics, a leading industrial robotics company, is pleased to  announce board changes that advance its efforts in creating a more diverse and inclusive workplace. Linda  Fayne Levinson, who joined the board in 2017, was appointed as chair early in 2020, and Whitney Rockley, co founder of McRock Capital, has joined the board as the company prepares for accelerated growth following the  previously announced US$ 34 million Series C financing.  

The presence of two prominent female executives at the board level helps reinforce the message that Clearpath  Robotics is a place where all team members feel they belong and can comfortably share their diversity of  thought. With Rockley’s appointment, a third of Clearpath’s directors are women.  

Gender diversity, specifically within tech companies in Canada, has traditionally lagged other industries. The  company’s commitment to diversity and inclusion is a journey that will not only drive performance and  innovation but it will improve the employee experience making Clearpath Robotics a rewarding place to work.  

In 1978, Linda Fayne Levinson became the first female partner of McKinsey & Company and later became a  Senior Vice President at American Express. She was also a Partner at GRP Partners, a venture capital firm  investing in early-stage technology companies. Linda is a director at Jacobs and previously served as Chair of  the Board at Hertz and a director of NCR, Ingram Micro, Western Union,, and Genentech. She  also is a director of several private companies.  

“When I first set out to find an independent board member in 2017, I was looking for what seemed like an  unattainable list of experience. I wanted an operational executive with experience in VC/startups as well as  scale-ups and public boards. Someone who could help us innovate our business model and be a CEO coach at  the same time,” said Matthew Rendall, CEO and co-founder of Clearpath. “Linda possessed all the experience  we were looking for, and we were very fortunate that she agreed to join us. She has provided valuable guidance  on how we run our company. Her appointment to Chair has increased her scope and impact on our organization  and our employees.” 

“Working with the board and this outstanding entrepreneurial management team to scale the company and  attract and keep the best talent is an honor,” said Fayne Levinson. “We strongly believe that hiring high achieving, diverse talent is key to Clearpath’s success in bringing automation and resilience to enterprise  clients.”  

Whitney Rockley co-founded McRock Capital, a leading Industrial IoT venture capital fund, in 2012 with a vision  that the advancements in computing power, big data, and cloud computing would transform large industrial  markets. Whitney is a leader in Canada’s venture capital community and was the first female Chair of the  Canadian Venture Capital and Private Equity Association (CVCA). She created the first task force on diversity  and inclusion, which evolved into a committee that she chaired for several years. She has funded and helped  scale numerous industrial tech companies over the past two decades.  

“We’re on a journey to creating a more inclusive work environment. Having gender diversity at our board  level is the first step to show that we’re serious about weaving inclusiveness into the fabric of our company,” 

said Rendall. “Whitney brings a wealth of expertise in the Industrial IoT market and a passion for diversity,  equity, and inclusion. With her guidance, we’re committed to becoming a more inclusive workplace.”  

“I believe that teams that come from different backgrounds and bring different perspectives dramatically  outperform their industry peers,” said Whitney Rockley, co-founder of McRock Captial. “We encourage all of  our portfolio companies to embrace diversity. Beyond Clearpath’s exciting potential in a growing market,  Matt’s focus on diversity was in line with our beliefs.”  

Clearpath Robotics has recently begun work with Toronto-based Diversio to track employee sentiment and  benchmark its policies.  

April Clarke, Clearpath’s vice president of people, is leading the change. “We’re taking a hard look at the culture  of our organization and exploring how we make changes to systems as fundamental as our core values,” said  Clarke. “We want to ingrain inclusivity into our culture to attract, retain, and develop the best talent possible,  regardless of gender, race, or identity.”  


About Clearpath Robotics, Inc.  

Founded in 2009, Clearpath Robotics established itself as a pioneer in autonomous robotics when it developed  one of the world’s first platforms for robotics research. Today, the Clearpath Robotics platform is used to  support robotics innovation in mining, military, agriculture, aerospace, and academia. In 2015, the company  established the OTTO Motors division to focus on the use of autonomous mobile robots for materials handling 

in warehouses and factories. Visit and for more  information.  


Lynda Chau  

Vice President, Marketing