PHM Technology receives strategic investment from the Venture Capital Unit of Siemens
MELBOURNE, Australia, March 15th, 2016
Australian software developer PHM Technology (PHMT) today announced a strategic investment from the Venture Capital Unit of Siemens (SVC) in Germany.
PHMT develops the Maintenance Aware Design environment (MADe), a model based simulation toolset that integrates reliability, availability, maintainability and safety (RAMS) and diagnostics analyses for Systems Driven Product Development. MADe is used to identify and mitigate the technical, operational and financial risk in complex systems at each stage of the product lifecycle (concept, design, operations).
"PHM Technology are outstanding in capability and experience and MADe represents the next generation of RAMS analysis", says Dr. Ralf Schnell, CEO of SVC. "Our capital investment strengthens the collaboration with Siemens and drives industry leadership improving risk management during engineering and design processes."
"This investment is a vote of confidence in our technology by one of the largest engineering companies in the world" said Chris Stecki, CEO of PHMT, "It provides the Company with the funds to extend our global commercialisation activities, and continue the development of MADe as a comprehensive engineering decision support tool for RAMS and diagnostics.
About the Venture Capital Unit of Siemens
The Venture Capital Unit of Siemens (SVC) invests in early stage technology companies and established technology growth companies, focusing on the areas of electrification, automation and digitalization and hence plays a key role in Siemens' global innovation network. The aim is to identify innovative solutions from which Siemens and its customers can profit and to strengthen business partnerships with innovative industry players. To date, the company has invested in about 180 start-up companies worldwide. For more information, visithttp://www.siemens.com/venturecapital
