Paris-based venture studio OSS Ventures has announced the first close of €40 million for a new investment vehicle targeting a total fund size of €75 million.
The fund is designed to provide follow-on capital to startups built within the OSS Ventures studio, supporting the international scale-up of industrial software solutions across Europe and the United States.
The round is led by Decathlon Pulse and Teknor Apex, with participation from existing investors including 1st Kind by Peugeot Family and Tikehau Capital.
A Venture Studio Focused On Industrial Software
Founded in 2019, OSS Ventures operates a hybrid model that combines a venture studio with an investment fund. Rather than backing external founders, the studio builds companies internally, embedding teams directly within industrial environments to identify operational pain points and develop software solutions tailored to real-world manufacturing constraints.
Since its inception, OSS Ventures has launched around 30 B2B industrial software startups, of which 22 remain active today. These companies focus on digitising manufacturing processes, field operations, and industrial performance management.
Collectively, the portfolio has raised more than €100 million and supports over 3,600 industrial sites worldwide.
Renan Devillières, Founder of OSS Ventures, describes the firm’s approach as deeply operational. He explains that the studio builds companies at the heart of factories, working directly with operators and managers, and only finances them once they have proven their value in real industrial settings.
Advertisement
Positioned Within A Broader DeepTech Funding Wave
The first close of OSS Ventures’ new fund comes amid sustained investor appetite for industrial and DeepTech-focused venture capital across Europe in 2025 and 2026.
Recent fundraises include €150 million for Fund V by Berlin-based b2venture, €210 million for London’s 2150 climate-focused fund, and €92.8 million for Constructor Capital’s debut DeepTech vehicle in Switzerland. In Paris, SlateVC announced a €132 million first close for its industrial and climate B2B growth fund, while Ventech closed a €175 million sixth fund targeting European AI and software companies.
Together, these vehicles represent approximately €839 million in newly raised capital over the past two years, underlining continued institutional commitment to software-enabled industrial transformation.
Within this broader landscape, OSS Ventures’ new vehicle is more specialised. The fund concentrates exclusively on follow-on financing for companies built within its own studio, positioning it as what the firm describes as an “amplification vehicle.”
Scaling Proven Industrial Solutions
Rather than financing early-stage ideas, the new fund is intended to accelerate startups that have already demonstrated traction in live industrial environments. By embedding teams in factories and aligning product development with operational realities, OSS Ventures aims to cultivate globally competitive industrial software champions.
With €40 million secured toward its €75 million target, OSS Ventures is preparing to scale its portfolio companies at a time when manufacturing resilience, digitalisation, and performance optimisation remain strategic priorities across Europe and the United States.
About OSS Ventures
Founded in 2019, OSS Ventures is a Paris-based venture studio and investment fund focused on building and scaling industrial software startups. By embedding teams directly within factories and industrial environments, the firm develops B2B solutions designed to digitise operations, improve performance, and strengthen manufacturing resilience. Its portfolio companies are deployed across more than 3,600 industrial sites worldwide.
