mcrock jan 13 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 McRockCapital.com and follow on  Twitter @McRockCapital.

Mcrock oct 9 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 Praemo.com 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 McRockCapital.com 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 bdc.ca/capital .

mcrock 2. 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, lastminute.com, 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 www.clearpathrobotics.com and www.ottomotors.com for more  information.  

Contact  

Lynda Chau  

Vice President, Marketing  

lchau@clearpath.ai

mcrock 2. sept 22 2020 mcrock joins clearpath

McRock Joins Clearpath Robotics’ US$34 Million Series C Round

Toronto, Ontario–(September 22, 2020) – McRock Fund II LP, the latest Industrial Internet of Things (IIoT)  venture capital fund managed by McRock Capital, announced today that it has joined the previously  announced Series C financing in Kitchener-based Clearpath Robotics (Clearpath). McRock’s USD$5M  participation increases the Series C round to USD$34 million. McRock joins Kensington Private Equity  Fund, BMO Capital Partner, EDC, iNovia Capital and RRE Ventures. Whitney Rockley, Co-founder &  Managing Partner from McRock has joined Clearpath’s Board of Directors.  

Clearpath and its OTTO Motors division, enable the world’s largest companies to create safer and more  productive workplaces with autonomous mobile robots (AMR). This funding will be used to expand  Clearpath’s global network of delivery partners and accelerate its product roadmap for enterprise  customers with emphasis on its industry-leading autonomous technology. 

“We are excited to welcome McRock as an investor and a partner in Clearpath given their strong focus  and experience in industrial automation.,” said Matthew Rendall, Clearpath Robotics CEO and Co-founder.  “Their track record of scaling hardware and software businesses focused on large industrial markets  attracted us to their team.”

“We have been following the exciting progress of Matt Rendall and the team at Clearpath for years,” said  Whitney Rockley, Co-founder of McRock Capital. “Not only are they a global leader in providing safety  certified and rugged AMRs but they have extremely broad and deep bench strength in autonomy and  navigation, which is the future of transportation across a broad array of sectors”. 

Over 70% of Clearpath’s AMRs are installed in Fortune Global 500 companies, including GE, Toyota, Nestle,  and Berry Global. Since the Pandemic began, Clearpath has also seen a surge in demand from essential  businesses responding to increased operational risks associated with COVID-19, including food, beverage  and medical device manufacturing. 

About Clearpath Robotics – 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 www.clearpathrobotics.com and www.ottomotors.com or follow on twitter @ClearpathRobots 

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). 

Visit www.mcrockcapital.com and follow on Twitter @McRockCapital

mcrock 4. june 4 2020 mcrock fund ii reaches 112m

McRock Fund II Reaches $112 Million Adding AspenTech and Fonds de solidarité FTQ as Investors

 

Toronto, Ontario–(June 4, 2020) – McRock Capital has held a subsequent close on its latest venture capital fund, McRock Fund II LP, dedicated to investing in the global trend around the Industrial Internet of Things  (IoT). The fund has exceeded its target reaching $112 million with the announcement of new  commitments from Aspen Technology (“AspenTech”), a global leader in asset optimization that is  embedding artificial intelligence throughout industrial processing environments, and the Fonds de  solidarité FTQ (the “Fonds”). McRock Fund II was launched in 2019 with participation from Cisco  Investments, Caterpillar Ventures, Shell, Mitsubishi Corporation, BDC Capital, Export Development  Canada, Teralys Capital, Alberta Enterprise Corporation, HarbourVest, Kensington Capital Partners and a  large pension fund. 

“AspenTech is accelerating the time to value from digital transformation initiatives with the next  generation of industrial-strength AI,” said Antonio Pietri, President and CEO of Aspen Technology. “We  were impressed by the expertise of McRock during recent acquisitions and look forward to working with  the team.”  

AspenTech previously acquired two of McRock’s portfolio companies. In July 2019, they announced the  acquisition of mnubo, a Montreal-based provider of purpose-built artificial intelligence (AI) and analytics  infrastructure for the IoT. 

“We are pleased to join world-class investors and corporations in McRock’s new fund,” said Emil Savov, Vice President, Investments – Venture Capital, at the Fonds. “The Montreal area is one of the leading AI  clusters in the world with emerging start-ups like mnubo, a company in which both the Fonds and McRock 

invested. Our investment in McRock fits well with our strategy to further support Internet of Things enterprises that can help SMEs adopt new advanced technologies.” 

“Now more than ever, accelerating automation and digital transformation in industrial sectors is critical  to maintaining and optimizing production,” said Whitney Rockley, Co-founder and Managing Partner of  McRock Capital. “By adding a world leader in asset optimization through AspenTech and a highly reputable  financial institution through the Fonds de solidarité FTQ, we continue to enhance our powerhouse of top 

tier investors in McRock.” 

About AspenTech 

Aspen Technology (AspenTech) is a global leader in asset optimization software. Its solutions address  complex, industrial environments where it is critical to optimize the asset design, operation and  maintenance lifecycle. AspenTech uniquely combines decades of process modelling expertise with  artificial intelligence. Its purpose-built software platform automates knowledge work and builds  sustainable competitive advantage by delivering high returns over the entire asset lifecycle. As a result,  companies in capital-intensive industries can maximize uptime and push the limits of performance,  running their assets safer, greener, longer and faster. 

For more information, visit AspenTech.com 

About the Fonds de solidarité FTQ 

The Fonds de solidarité FTQ is a capital development fund that channels the savings of Quebecers into  investments. With $16.7 billion in net assets as at November 30, 2019, the Fonds has helped create and  protect more than 215,000 jobs. The Fonds has over 3,100 partner companies and upwards of 700,000  shareholders-savers. 

For more information, visit FondsFTQ.com  

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 McRockCapital.com and follow on Twitter @McRockCapital Media: 

Scott MacDonald 

McRock Capital  

647 478 9337 ext 1 

scott@mcrockcapital.com

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