Home Depot Ventures Into Technology

The Home Depot has launched Home Depot Ventures, a venture capital fund created to identify, fund, and partner with early-stage companies to accelerate emerging technologies that aim to improve the customer experience and shape the future of home improvement. The $150 million fund aims to invest in companies that advance its ability to provide a seamless interconnected shopping experience, develop new and differentiated capabilities, and extend its low-cost provider position to better serve customers and associates. The fund will consider investment opportunities in businesses at various stages of development, with an emphasis on early and growth stage companies that solve challenges for its customers and show potential to scale. The fund has previously invested in successful startups including Afero, a secure, end-to-end Internet of Things (IoT) platform to provide smart capabilities for products in virtually any industry, and Loadsmart, a freight technology company designed to help shippers and carriers price, book, and move freight more efficiently.