# Corporate VCs backing Supply Chain (2026 list) > 22 corporate VCs backing Supply Chain, 91% active in the last 12 months. Led by Google Ventures, M12, Z Venture Capital. Ranked by what they funded. Source: https://millionrounds.com/lists/corporate-vcs-supply-chain (Millionrounds; every figure on the page links to its filing or article) [Investor Lists](https://millionrounds.com/lists) # Corporate VCs backing Supply Chain Updated 7 November 2026 Corporate VCs we have observed in a supply Chain round in the last two years. [See all 22 *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Fcorporate-vcs-supply-chain)The top 22 **22** investors on the list No change this week **300** cheques in 12 months *+5%* against the market **$23M** median round they joined *+181%* against the market median **91%** wrote a cheque in 12 months **36%** have led a round ## The Top 22 Ordered by cheques observed, never by anything anyone paid for Deploying now (20) - 1 [Google Ventures](https://millionrounds.com/fund/gv) *Deploying now* Corporate VC · United States **884** **$38M** median round **Oct 2026** last seen - 2 [M12](https://millionrounds.com/fund/m12) *Deploying now* Corporate VC · United States **300** **$30M** median round **Oct 2026** last seen - 3 [Z Venture Capital](https://millionrounds.com/fund/z-venture-capital) *Deploying now* Corporate VC · Japan **200** **$10M** median round **Oct 2026** last seen - 4 [M Ventures](https://millionrounds.com/fund/m-ventures) *Deploying now* Corporate VC · Switzerland **143** **$15M** median round **Sept 2026** last seen - 5 [SE Ventures](https://millionrounds.com/fund/se-ventures) *Deploying now* Corporate VC · United States **112** **$16M** median round **Oct 2026** last seen - 6 [Endeavor](https://millionrounds.com/fund/endeavor) *Deploying now* Corporate VC · United States **106** **$25M** median round **Sept 2026** last seen - 7 [Rainmatter by Zerodha](https://millionrounds.com/fund/rainmatter-by-zerodha) *Deploying now* Corporate VC · India **79** **$2.5M** median round **Nov 2026** last seen - 8 [Hitachi Ventures](https://millionrounds.com/fund/hitachi-ventures) *Deploying now* Corporate VC · Germany **59** **$31M** median round **Oct 2026** last seen - 9 [Kaiser Permanente Ventures](https://millionrounds.com/fund/kaiser-permanente-ventures) *Deploying now* Corporate VC · United States **59** **$35M** median round **May 2026** last seen - 10 [Orange Ventures](https://millionrounds.com/fund/orange-ventures) *Deploying now* Corporate VC · France **53** **$11M** median round **Sept 2026** last seen - 11 [Bertelsmann India Investments](https://millionrounds.com/fund/bertelsmann-india-investments) *Deploying now* Corporate VC · India **17** **$27M** median round **Oct 2026** last seen - 12 [Kickstart Ventures](https://millionrounds.com/fund/kickstart-ventures) *Deploying now* Corporate VC · Philippines **17** **$13M** median round **Apr 2026** last seen - 13 [Bankinter](https://millionrounds.com/fund/bankinter) *Deploying now* Corporate VC · Spain **12** **$78M** median round **Aug 2026** last seen - 14 [MemorialCare Innovation Fund](https://millionrounds.com/fund/memorialcare-innovation-fund) *Deploying now* Corporate VC · United States **12** **$7.7M** median round **Oct 2026** last seen - 15 [Henkel Ventures](https://millionrounds.com/fund/henkel-ventures) *Deploying now* Corporate VC · Germany **6** **$13M** median round **Oct 2026** last seen - 16 [Santander](https://millionrounds.com/fund/banco-santander) *Deploying now* Corporate VC · Spain **6** **$146M** median round **Jun 2026** last seen - 17 [TMC Venture Fund](https://millionrounds.com/fund/tmc-venture-fund) quiet Corporate VC · United States **2** **$28M** median round **May 2025** last seen - 18 [Yamaha Motor Ventures](https://millionrounds.com/fund/yamaha-motor-ventures) *Deploying now* Corporate VC · United States **2** **$17M** median round **Sept 2026** last seen - 19 [Africa Eats](https://millionrounds.com/fund/africa-eats) *Deploying now* Corporate VC · United States **1** **$40M** median round **Oct 2026** last seen - 20 [Bouygues](https://millionrounds.com/fund/bouygues) *Deploying now* Corporate VC · France **1** **$11M** median round **May 2026** last seen - 21 [RyderVentures](https://millionrounds.com/fund/ryderventures) *Deploying now* Corporate VC · United States **1** **$120M** median round **Jan 2026** last seen - 22 [Lineage Ventures](https://millionrounds.com/fund/lineage-ventures) quiet Corporate VC · United States **1** **$20M** median round **Jan 2025** last seen ## The Newest Cheques Rounds this list's investors joined most recently - **5** Nov **[altM](https://millionrounds.com/company/altm)** Series A · $10M *Led by* [Rainmatter by Zerodha](https://millionrounds.com/fund/rainmatter-by-zerodha) - **29** Oct **[Venttup](https://millionrounds.com/company/venttup)** Pre-seed · $3M *Led by* [Rainmatter by Zerodha](https://millionrounds.com/fund/rainmatter-by-zerodha) - **28** Oct **[Foundry Robotics](https://millionrounds.com/company/foundry-robotics)** Series A · $100M *With* [SE Ventures](https://millionrounds.com/fund/se-ventures) - **21** Oct **[Flapping Airplanes](https://millionrounds.com/company/flapping-airplanes)** Series A · $1B *With* [Google Ventures](https://millionrounds.com/fund/gv) - **21** Oct **[Blacksmith](https://millionrounds.com/company/blacksmith)** Series C · $66M *With* [Google Ventures](https://millionrounds.com/fund/gv) - **21** Oct **[CureBay](https://millionrounds.com/company/curebay)** Series C · $11M *With* [Bertelsmann India Investments](https://millionrounds.com/fund/bertelsmann-india-investments) ## Stages This Year 289 rounds - Series A **25%** - Seed **18%** - Series B **17%** - Series C **10%** - Venture **9%** - Other **22%** ## What They Backed Sectors, last 12 months - AI **133** - Fintech **35** - Healthcare **23** - Big Data & Analytics **19** - Manufacturing **18** - Robotics **18** ## Cheques by Quarter Led Joined 73 Q1 25 62 Q2 25 78 Q3 25 84 Q4 25 102 Q1 26 86 Q2 26 64 Q3 26 20 Q4 26 The last bar is the quarter still running. ## Lists Like This - [VC firms backing AI 4,329](https://millionrounds.com/lists/vc-firms-ai) - [VC firms backing Fintech 1,856](https://millionrounds.com/lists/vc-firms-fintech) - [VC firms backing Big Data & Analytics 1,248](https://millionrounds.com/lists/vc-firms-big-data) - [VC firms backing Biotech 1,207](https://millionrounds.com/lists/vc-firms-biotech) - [VC firms backing Robotics 1,098](https://millionrounds.com/lists/vc-firms-robotics) - [VC firms backing Construction 1,025](https://millionrounds.com/lists/vc-firms-construction) - [VC firms backing Energy 998](https://millionrounds.com/lists/vc-firms-energy) - [PE firms backing AI 956](https://millionrounds.com/lists/pe-firms-ai) - [VC firms backing Cybersecurity 950](https://millionrounds.com/lists/vc-firms-cybersecurity) [All investor lists *→*](https://millionrounds.com/lists) ## Quick answers about corporate VCs backing Supply Chain ### Who are the most active corporate VCs backing Supply Chain? By cheques observed, the most active are Google Ventures, M12, Z Venture Capital, M Ventures and SE Ventures. ### How many corporate VCs backing Supply Chain are there? 22 are on record. 91% made an investment in the last 12 months and 36% have led a round. ### Which stages do corporate VCs backing Supply Chain back? Of the rounds with a named stage in the last 12 months, mostly Series A (30%) and Seed (21%). ### How big are the rounds corporate VCs backing Supply Chain join? The typical (median) round among the leading investors here is $25M. ### Which sectors do corporate VCs backing Supply Chain back most? In the last 12 months, mostly AI, Fintech and Healthcare. ### Which corporate VCs backing Supply Chain lead the most rounds? Google Ventures (33 led), Bertelsmann India Investments (7 led) and M12 (6 led). ### Where are corporate VCs backing Supply Chain based? Among the most active, most are based in the United States (11), India (2) and Germany (2). ### What have corporate VCs backing Supply Chain invested in recently? Recent rounds include altM (Series A, Nov 2026, with Rainmatter by Zerodha), Venttup (Pre-seed, Oct 2026, with Rainmatter by Zerodha) and Foundry Robotics (Series A, Oct 2026, with SE Ventures). Built from the rounds we watched, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections)