RTL Group’s parent company Bertelsmann made more than 70 investments worldwide in 2017 through its Bertelsmann Investments division.
Its investments included a leading a US$20 million financing round in US-based video creation platform Wibbitz in October. Wibbitz offers software that lets news publishers convert text into videos by using artificial intelligence.
Its other investments included backing education provider Eruditus in India, bike-sharing app Mobike in China, and upping its stake in Brazilian medical website Medcel. Overall, at the end of last year Bertelsmann had holdings in more than 160 start-ups and investment funds.
“Investments in young digital companies with innovative business models play an important role in the implementation of our strategy,” said Thomas Rabe, chairman and CEO of Bertelsmann.
“With these investments we ensure the transfer of knowledge about digital trends that support us in the transformation, as well as about promising markets.”
Bertelsmann Investments unites Bertelsmann’s start-up investments around the world and focuses on the strategic growth regions of Brazil, China and India, as well as the United States and Europe.
Bertelsmann operates in about 50 countries around the world and its assets include broadcaster RTL Group, book publisher Penguin Random House, magazine publisher Gruner + Jahr, and music company BMG.