Munich Re’s acquisition and exit from Relayr

In 2018, Munich Re acquired relayr , an industrial IoT solutions provider, through its subsidiary Hartford Steam Boiler (HSB) at a $300 million valuation.

Relayr had previously raised $66.8 million in total funding, including a $23 million Series B round in 2016 led by Munich Re/HSB Ventures. That same year, Relayr partnered with HSB to develop customized insurance products. The company provided industrial firms with a full suite of digitization services, including a platform that connected new and legacy hardware and software to analyze machine performance and predict failures.

Relayr’s website is no longer active.

Here’s the message from Munich Re:

“Considering the strategic realignment of Munich Re’s innovation strategy, we have withdrawn from initiatives to focus on our core business. In the case of the relayr engagement, the best owner for the businesses going forward had been actively searched for and this was achieved in 2024.”