Husqvarna Group’s venture capital arm has recently invested 1 million euros to take an equity stake in Gamma Technologies. Gamma is the fifth investment for Husqvarna Group’s venture capital fund. The aim is to collaborate and help grow start-ups in areas of digital disruption that impact the Group’s industries.
“Gamma is innovating in an area of high interest to us as we believe Augmented Reality (AR) is an important technology when delivering new technology-based services to our customers going forward. We look forward to a close collaboration with the Gamma team and to capture learnings to accelerate the evolvement of our Construction business”, says Mark Johnson, Vice President Corporate Venture Capital, Husqvarna Group.
Gamma is disrupting the construction industry. It is doing this by bringing 3D Building Information Modeling (BIM) models with interactive features intuitively to the construction site. The technology utilizes its augmented reality technology to overlay BIM models on contractors’ mobile handsets displaying the otherwise unseen infrastructure. Gamma’s BIM / AR software is also used to guide operators on where to cut, drill, etc. This, then, reduces both planning time and the risk of performing work in the wrong place. These things are very costly to the group’s customers.
“The investment from Husqvarna Group will accelerate the revolution of the construction industry and spread awareness about the benefits of using AR technologies on the jobsite. Husqvarna Group, with our current shareholders Formitas, are strategic investors and partners which will help us define the future of construction. We are excited to start working with Husqvarna Group on the implementation of innovative technology in the construction industry.”, says Caner Dolas, CEO & Co-founder, Gamma Technologies.
Husqvarna Group Ventures
Husqvarna Group Ventures is looking for startups to invest in and partner with, where Husqvarna Group’s industry knowledge and distribution network will deliver value, and help scale these companies to maturity. Gamma represents a great example of how Husqvarna Group likes to involve itself at the early stages to help co-develop customer solutions.
About Husqvarna Group
Husqvarna Group is a global leading producer of outdoor power products and innovative solutions for forest, park and garden care. Products include chainsaws, trimmers, robotic lawn mowers and also ride-on lawn mowers. The Group is also the European leader in garden watering products. Additionally, the group is a global leader in cutting equipment and diamond tools for the construction and stone industries. The Group’s products and solutions are sold under brands including Husqvarna, Gardena, McCulloch, Flymo, Zenoah and Diamant Boart. Both dealers and retailers sell to consumers and professionals in more than 100 countries. Net sales in 2020 amounted to SEK 42bn. The Group also has around 13,000 employees in 40 countries.