N47
Profile, fund size and portfolio
N47 is the corporate venture arm of Siemens AG (industrial technology). It was founded in 2016 and is based in Palo Alto, United States. It invests from Seed to Series C+ in applications, infrastructure, systems.
Every figure links to its source
Snapshot
Data behind this graphic
| Item | Value |
|---|---|
| Stage range | Seed to Series C+ |
| Sectors | Applications, Infrastructure, Systems, AI application layer, Data stack, Cyber security |
| Geography | United States, Europe, Israel, India ; no India company on the current portfolio page (Portfolio companies by region, from the firm's portfolio page) |
| Offices | Palo Alto, United States, San Francisco, United States, London, United Kingdom, Munich, Germany, Tel Aviv, Israel |
Sources: S1 N47 website: portfolio page (58 company cards with location, sector, partnered year and round).
Data behind this graphic
| Item | Companies | Share |
|---|---|---|
| Active | 47 | 81% |
| Exited | 11 | 19% |
Status as the firm tags it
Sources: S1 N47 website: portfolio page (58 company cards with location, sector, partnered year and round).
Data behind this graphic
| Measure | Value | Unit | Kind | Source |
|---|---|---|---|---|
| Headline size | EUR 1bn | Commitment by parent | Stated by the firm or its parent | S4 |
| Companies backed | 58 | companies | Stated by the firm | S1 |
| Companies on the firm's portfolio page | 58 | companies | Counted from the firm's own list | S1 |
Sources: S4 Siemens press release: next47 as separate unit for startups (2016-06-28, PDF); S1 N47 website: portfolio page (58 company cards with location, sector, partnered year and round).
Where it invests and who leads it
Geography
- Headquarters
- Palo Alto, United States
- Offices
- Palo Alto, United States
- San Francisco, United States
- London, United Kingdom
- Munich, Germany
- Tel Aviv, Israel
Portfolio companies by regionS1
Portfolio companies by region, from the firm's portfolio page
Key facts
| Fact | Value | Status | Source |
|---|---|---|---|
| Parent company | Siemens AG | Single source | S4 |
| Parent industry | Industrial technology (automation, electrification, digital industries) | Single source | S4 |
| Founded | 2016 | Single source | S4 |
| Headquarters | Palo Alto, United States | Single source | S3 |
| Status | Active | Single source | S6 |
| Capital source | Parent company only | Single source | S4 |
| Headline size | EUR 1bn (Commitment by parent) | Single source | S4 |
| Companies backed | 58 | Single source | S1 |
| People on the team page | 14 | Single source | S2 |
| Stages | Seed, Series A, Series B, Series C+ | Single source | S1 |
Notable outcomes
IPOs and acquisitions of portfolio companies. Price shown only where published.
| Company | Type | Year | Acquirer or exchange | Price | Source |
|---|---|---|---|---|---|
| Aeva | IPO | 2021 | NYSE:AEVA | S1 | |
| Alaiko | Acquisition | 2024 | Zenfulfillment | S1 | |
| Armorblox | Acquisition | 2023 | Cisco | S1 | |
| DeepScale | Acquisition | 2019 | Tesla | S1 | |
| Markforged | Acquisition | 2025 | Nano Dimension | S1 | |
| Noname Security | Acquisition | 2024 | Akamai | S1 | |
| Radiant Security | Acquisition | 2026 | Cribl | S1 | |
| rideOS | Acquisition | 2021 | Gopuff | S1 | |
| Scoutbee | Acquisition | 2025 | Coupa | S1 | |
| TigerEye | Acquisition | 2026 | Lennar | S1 | |
| Turvo | Acquisition | 2022 | Lineage Logistics | S1 |
Recent rounds
| Date | Company | Round | Amount | Led by the firm | Source |
|---|---|---|---|---|---|
| 2026-09-09 | Euno | Series A | USD 23M | S6 | |
| 2026-04-21 | Enzo Health | Series A | Not stated | S9 | |
| 2026-04-01 | Sona | Series B | USD 45M | S8 | |
| 2026-01-20 | XBuild | Series A | USD 19M | S7 | |
| 2025-08-26 | Aurasell | Seed | USD 30M | S10 | |
| 2025-07-09 | Nominal | Series A | USD 20M | S11 | |
| 2025-02-24 | Patlytics | Series A | USD 14M | S12 | |
| 2025-01-14 | Halcyon | Series C | Not stated | S13 | |
| 2024-10-02 | Harmonic Security | Series A | USD 17.5M | S14 | |
| 2024-08-13 | Encord | Series B | USD 30M | S15 |
Portfolio
The firm's portfolio page lists 58 companies: 47 active, 11 exited.S1
| Tag | Companies | Share |
|---|---|---|
| Active | 47 | 81% |
| Exited | 11 | 19% |
Every company on the N47 list
58 companies, as listed on the firm's own website: 47 active, 11 exited.S1 Read the firm's list.
Active 47
- 15Five
- Aforza
- Antenna
- Apollo GraphQL
- Aurasell
- Avidbots
- Bizzabo
- Blink
- Bringg
- BuildOps
- Built Robotics
- cargo.one
- Claroty
- Cohesity
- DataGrail
- Echo
- Encord
- Enzo Health
- Euno
- Freehand
- Gecko Robotics
- Halcyon
- Harmonic Security
- Kai
- Locus Robotics
- Logz.io
- Luminary
- Metadata
- Nominal
- Observe.AI
- Patlytics
- Sennder
- Sila
- Skydio
- Skylo
- Sona
- Sysdig
- Tractian
- TwoDots
- Varjo
- VAST Data
- Verkada
- Vitally
- Wandelbots
- XBuild
- Yellowbrick Data
- Zesty
Exited 11
- Aeva
- Alaiko
- Armorblox
- DeepScale
- Markforged
- Noname Security
- Radiant Security
- rideOS
- Scoutbee
- TigerEye
- Turvo
For founders
Fund vehicles
| Vehicle | Size | Year | Note | Source |
|---|---|---|---|---|
| Next47 first five-year funding | EUR 1bn | 2016 | Effective 2016-10-01; first five years | S4 |
| Siemens group venture capital investments total (annual report FY2022/23, as quoted by BZ) | EUR 578M | 2023 | Fell from EUR 607 million; includes items beyond N47 per BZ; new investments EUR 156 million vs EUR 221 million; sales EUR 40 million vs EUR 100 million | S5 |
History
- Siemens announces next47 on 2016-06-28 with EUR 1 billion for five years; unit effective 2016-10-01; offices planned in Berkeley, Shanghai and Munich.S4
- First portfolio partnerings on the site: Aeva and Markforged.S1
- Verkada Series A; DeepScale, rideOS, Turvo and others join the portfolio.S1
- Skydio Series C; DeepScale acquired by Tesla; 11 partnerings on the site.S1
- Aeva listed on NYSE; rideOS acquired by Gopuff.S1
- Noname Security acquired by Akamai; Encord Series B and Harmonic Security Series A led.S1
- Brand changes from Next47 to N47; Markforged and Scoutbee acquired.S1
- Radiant Security acquired by Cribl and TigerEye by Lennar; Euno, XBuild, Sona and Enzo Health rounds led.S1
Where sources disagree
- Team size: 14 people on team page (2026-10-02) (S2) vs 18 on the capital team (BZ 2024-08-22) (S5). Different dates and counting basis.S2S5
- Companies backed: 58 portfolio cards (2026-10-02) (S1) vs 47 investments listed on site, about 40 current (BZ 2024-08-22) (S5). Site grew from 47 to 58 cards; BZ counted 47 in August 2024.S1S5
Official pages
Read the firm's own pages for current information.
- Website www.n47.vc
- Portfolio www.n47.vc/portfolio
- LinkedIn company page www.linkedin.com/company/n47capital/
Sources
- S1N47 website: portfolio page (58 company cards with location, sector, partnered year and round)Firm
- S2N47 website: team page (14 people with locations and sectors)Firm
- S3N47 website: locations pageFirm
- S4Siemens press release: next47 as separate unit for startups (2016-06-28, PDF)Parent company
- S5Boersen-Zeitung: Next47 builds on the founding myth (2024-08-22)Press
- S6N47 insights: Why we invested in Euno (USD 23M Series A, 2026-09-09)Firm
- S7N47 insights: Reimagining the jobsite with AI (XBuild USD 19M Series A, 2026-01-20)Firm
- S8N47 insights: Building the operational foundation for the frontline economy (Sona USD 45M Series B, 2026-04-01)Firm
- S9N47 insights: AI infrastructure for home health (Enzo Health Series A, 2026-04-21)Firm
- S10N47 insights: N47 leads Aurasell's USD 30M seed round (2025-08-26)Firm
- S11N47 insights: Next47 leads Nominal's USD 20M Series A (2025-07-09)Firm
- S12N47 insights: Next47 leads Patlytics Series A (USD 14M, 2025-02-24)Firm
- S13N47 insights: Next47 announces Series C investment in Halcyon (2025-01-14)Firm
- S14N47 insights: Next47 leads Harmonic Security USD 17.5M Series A (2024-10-02)Firm
- S15N47 insights: Next47 leads Encord USD 30M Series B (2024-08-13)Firm
- S16N47 team bio pages (n47.com/team/<name>), LinkedIn links in page HTMLFirm
- S17Siemens page: Venture capitalParent company
Disclaimer and corrections
Not affiliated. This page is not affiliated with, endorsed by or sponsored by N47 or any company named on it. Names and trademarks belong to their owners. Informational only. This is a public-source reference. It is not investment, legal or tax advice and not an offer or solicitation. Sources. Each figure names its source. Figures may have changed. Please read the firm's official pages, linked above. Corrections and takedown. To report an error or ask for a change or removal, use the correction form or email Richard@CorporateVentureCapital.com.
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