Aras, developer of enterprise Product Lifecycle Management (PLM) software, announced a $40 million investment round led by Silver Lake Kraftwerk, a fund of Silver Lake, a technology investing company, with participation from GE Ventures, the investment arm of General Electric. Aras will use this minority investment to drive growth, expand operations and further extend Aras’ technology leadership through development and acquisitions, the company reports.
“We invest in breakout companies that accelerate industrial transformation through a combination of technology innovation and disruptive business models,” says Martin Fichtner, managing director of Silver Lake Kraftwerk.
“To power the next wave of global industrial productivity, GE is investing in critical foundational capabilities for the Industrial Internet. Aras’ PLM platform delivers digital twin product configuration and digital thread traceability across the lifecycle which are critical to analyzing and interpreting data from products and the factory,” says Steve Taub, managing director, Advanced Manufacturing & Enterprise at GE Ventures.
Sources: Press materials received from the company.