McRock Capital secures $100 million funding focusing on Industrial IoT use cases

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McRock Capital has successfully raised $100 million (£80m) for its second fund focused on the Industrial Internet of Things (IIoT).

The new fund, McRock Fund II LP, has support from investors like Cisco Investments, Shell and other significant corporate and institutional investors including BDC Capital, Export Development Canada, Alberta Enterprise Corporation, and HarbourVest.

The Canadian VC firm, which specialises in growth capital and later stage investing in intelligent infrastructure companies, will use the accumulated fund in high growth organisations across Canada, the US and Europe that are blending the next-generation data analytics through AI with growing

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