Winners of the 2024 McRock Digital Industrial Awards Announced

Toronto, Ontario--(Newsfile Corp. - June 6, 2024) - The leading digital industrial venture capital fund manager, McRock Capital, announced the 2024 winners of the McRock Digital Industrial Awards during its 10th Annual McRock Symposium in Montreal yesterday. The McRock Digital Industrial Awards were established to recognize the incredible software being built for industrial applications and to spotlight Digital Industrial innovators who are leading the way to digitalize these markets. The awards celebrate organizations in three categories: the Industrial Software Corporate Leader of the Year, the Industrial AI Tech Company of the Year, and the Industrial Software Entrepreneur of the Year. The 2024 winners were selected by a panel of independent judges that included Robert Rosen, Managing Director, Innovation Banking, CIBC; Mickaël Galvani, Investment Director - Fund Investments, Fonds de solidarité FTQ; and Ron Sege, Partner, BGV.

McRock Industrial Software Corporate Leader of the Year

This award is presented to a publicly listed company with a leading role in delivering software innovations for digital transformation of big industries. For their CAD and PDM solution, PTC Onshape® is the McRock Industrial Software Corporate Leader of the Year 2024.

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John McEleney (Corporate Strategy Advisor, PTC) accepts the McRock Industrial Software Corporate Leader of the Year Award.

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PTC's Onshape, the most widely used cloud-native CAD & PDM system, has distinguished itself by consistently delivering useful updates that have advanced the digitalization of industrial sectors. With a rapid cadence of over 17 releases annually, Onshape enables its users to stay at the forefront of technological advancement. In 2023, updates such as modal analysis and the Arena® PLM cloud connection expanded overall capabilities, while enhanced surfacing and sheet metal advancements streamlined design processes and empowered users to create complex geometries with greater precision and efficiency. The company's forward-thinking strategies and investments in technology have empowered its customers with tools prioritizing collaboration, productivity, and organizational flexibility.

"On behalf of the Onshape team at PTC, we are honored to receive the McRock Industrial Software Corporate Leader of the Year Award for 2024. Our cloud-native CAD and PDM system empowers our users with a product design tool that enhances collaboration, productivity, and precision. This recognition underscores our commitment to driving digital transformation in the industrial sector through continuous innovation." - John McEleney, Corporate Strategy Advisor, PTC.

PTC, Onshape, Arena, and the PTC logo are trademarks or registered trademarks of PTC Inc. or its subsidiaries in the United States and other countries.

McRock Industrial AI Tech Company of the Year

This award is presented to a privately-owned emerging company demonstrating tangible achievements in leveraging AI to deliver transformational software to the industrial world. Bearing AI is awarded the McRock Industrial AI Tech Company of the Year 2024.

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Dylan Keil (Founder and CEO, Bearing AI) accepting the McRock Industrial AI Tech Company of the Year Award.

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Bearing AI is transforming maritime shipping with the industry's first AI-powered Decision Engine. Maritime shipping is a complex industry that generates vast volumes of data but lacks the tools to turn that data into transformative insights. The Bearing AI Decision Engine is built on industry-leading models trained on a proprietary blend of global fleet operations and vessel data to provide an unparalleled understanding of vessel performance. Their AI models are designed to predict important factors such as vessel travel time, fuel usage, and greenhouse emissions. By leveraging these models, their customers can effectively address crucial maritime challenges such as trade pattern prediction, smart schedule planning, and environmental compliance.

"We are honored to be the recipients of the McRock Industrial AI Tech Company of the Year Award," said Dylan Keil, Founder and CEO of Bearing AI. "This recognition underscores our commitment to transforming the maritime shipping industry with AI-driven solutions. Bearing's Decision Engine harnesses the power of artificial intelligence to deliver actionable insights, empowering shipping companies to optimize fleet performance, improve operational efficiency, and crucially, meet their environmental targets. We firmly believe that AI will play a pivotal role in the transition to green shipping, and we are proud to be at the forefront of that effort."

McRock Industrial Software Entrepreneur of the Year

This award is presented to an entrepreneur whose business has created innovative new software solutions and who has demonstrated leadership promoting the adoption of industrial digitalization. Bert Baeck is awarded the McRock Industrial Software Entrepreneur of the Year 2024.

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Bert Baeck (Founder & CEO, Timeseer.AI) accepting the McRock Industrial Software Entrepreneur of the Year Award.

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Bert Baeck is not new to recognition for his efforts as an entrepreneur; he previously co-founded and sold TrendMiner to Software AG. His latest venture, Timeseer.AI, operates in the data quality/observability category and specializes in time-series operational technology (OT)/IoT data. IoT data presents unique lineage and connectivity challenges. Global organizations scaling up with data products, data-driven decision-making, and AI and analytics require high-quality data. Timeseer.AI transforms raw, unverified, and unmonitored data into high-quality, observed data by removing defects and reducing data downtime. This enhancement in data confidence streamlines operations and catalyzes innovation, marking a pivotal turn in digital business strategies. It is a testament to Bert's leadership and the business's prospects that many of the founding and executive leadership teams from TrendMiner are back together to build Timeseer.AI.

"Data that's being used and not verified for quality is not reliable and a huge liability. The use of unreliable data is a bomb under the entire AIoT economy. It's my and Timeseer.AI's purpose to drive industrial economic growth by delivering trusted OT/IoT Data at scale. It's our vision to ensure that all data generated by connected sensors and devices and consumed in downstream data products will be reliable by 2035 and this award feels like the proof that we are on the right track. "- Bert Baeck, Founder & CEO, Timeseer.AI.

About McRock Capital - McRock Capital is the first dedicated Digital Industrial venture capital fund manager focused on the intersection of data and software in large industrial markets and smart cities. The McRock team has a unique background of building high-growth venture-backed Digital Industrial companies while also having worked in the power, water, and energy industries. McRock is backed by leading institutional investors as well as Cisco Systems, Caterpillar, Mitsubishi, AspenTech and Shell.

Visit www.mcrockcapital.com and follow on LinkedIn @McRock Capital.

Contact
Mike Dawson
Vice President
e. mike@mcrockcapital.com

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