GreenIQ, its lead investor Entrée Capital, and the Stihl Group signed an agreement whereas Stihl Group subscribes to 34.42% of the shares in GreenIQ Ltd. Confidentiality was agreed on the amount of the investment.
“We are excited to announces Stihl’s investment in GreenIQ,” said GreenIQ CEO Odi Dahan. “With joint forces we will lead the connected garden market to the next level.”
Stihl and GreenIQ will closely cooperate on research and development in order to add connected garden products to Stihl’s product portfolio. GreenIQ will continue expanding its markets independently after the investment.
“With the investment in GreenIQ, we are accelerating our activities in the area of digitization and connected products,” said Stihl CEO Dr. Bertram Kandziora. “The participation is not only to secure mutual projects with a team of experienced software developers for connect products, but also to support the development of Stihl Smart Garden Hub.”