Bosch Purchased Significant Amount Of IOTA Tokens, First Investment In Ledger Technology

The corporate venture capital company of the Bosch Group,Robert Bosch Venture Capital GmbH (RBVC), has purchased a significant amount of IOTA tokens, one of the largest cryptocurrencies in the world. In doing so it hopes to intensify the collaboration with the IOTA Foundation, an open-source non-profit foundation from Germany.



RBVC also intends to elevate the technology to maturity by bringing it closer to Bosch’s global ecosystem and key partners. “Distributed ledger technology will play an important role in the industry of tomorrow,” said Dr. Ingo Ramesohl, Managing Director at RBVC. “Bosch is one of the pioneers actively driving the adoption of distributed ledger technology in the automotive and Internet of Things (IoT) industry. The investment in IOTA’s token, the first ever token investment of RBVC, will help us working closely with the IOTA Foundation to explore the industrialization of this exciting technology.” RBVC’s investment broadens the potential for new business models for the IoT in any number of verticals and uniquely positions IOTA and Bosch to take on the challenges of IoT together. Dr. Hongquan Jiang, Partner at RBVC, will join the IOTA Foundation’s advisory board. The investment follows the successful launch of IOTA’s data marketplace, with more than 30 leading companies worldwide participating.


Read Also: Top Reasons Why Ripple Can Hit Coinbase And Amazon in 2018


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