BASF Venture Capital has committed $2 million to Alchemist Accelerator’s fund. At least half of the investment will be earmarked to fund agtech, nutrition, material informatics, and 3D printing startups.

This investment will help accelerate BASF’s engagement with technologies including AI, robotics, and the Internet of Things.

“Digitalization represents unprecedented opportunities to create value for our customers and develop new business models,” said Markus Solibieda, managing director, BASF Venture Capital. “By investing in a digitally-focused fund, we promote innovations at the intersection of chemicals and technologies like artificial intelligence, internet of things and robotics.”

Launched in 2013, Alchemist Accelerator seeds 75 startups per year, providing exclusive connections to the best enterprise coaches, investors, and early adopter customers as part of its six-month program.

Since its inception, 24 companies funded by Alchemist Accelerator have gone on to be acquired, and more than 100 have continued on to raise significant funding from some of the top tech investors, including Andreessen Horowitz, Bessemer Venture Partners, Draper Fisher Jurvetson, Foundation Capital, Founders Fund, Greylock Ventures, Menlo Ventures, Redpoint Ventures, Social + Capital Partnership, and True Ventures.  

“It is an honor to welcome BASF Venture Capital as a Limited Partner with Alchemist,” said Ravi Belani, managing director at Alchemist. “Some of the most exciting innovations we are seeing, are at the nexus of the digital and material – few partners are as equipped to bring expertise in that area as BASF. We are thrilled to officially welcome BASF into the Alchemist family.”

The Alchemist Accelerator very recently revealed its 20th Class on January 23, 2019 to more than 200 investors, partners, and customers at Juniper Networks in Sunnyvale, California.

-Lynda Kiernan