Montréal-based industrial AI scaleup Vention has raised $110 million USD (around $150 million CAD) in a Series D funding round to accelerate the global rollout of its physical AI platform for manufacturing automation.
The company also confirmed it surpassed a $100 million CAD annual run rate toward the end of 2025.
The round was led by Investissement Québec, with participation from new backers including Nvidia’s venture arm and Desjardins Capital, alongside returning investor Fidelity Investments Canada. The financing is primarily equity-based, with a smaller credit component, bringing Vention’s total funding to more than $300 million CAD.
Scaling Physical AI For The Factory Floor
Vention plans to use the new capital to deepen its research into physical AI, applying machine learning and artificial intelligence to how robots perceive, move and operate in real-world industrial environments. The funding will also support continued development of its software platform and expansion across Europe, where the company already operates through its German offices.
According to CEO Etienne Lacroix, the company sees itself becoming a default standard for industrial automation and is investing aggressively to cement that position.
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A Self-Serve Ecosystem For Industrial Automation
Founded in 2016 by Etienne Lacroix and CTO Max Windisch, Vention offers a self-serve platform that combines engineering software with modular, plug-and-play hardware. Manufacturers can design, configure and deploy automated equipment through a single ecosystem, which Lacroix describes as an “Apple-like” experience for industrial automation.
Using generative AI, customers can design robotic systems without writing code and order complete automated workstations directly through the platform. Vention’s physical AI capabilities enable robots to manage perception and motion planning, allowing for flexible and adaptive automation on the factory floor.
Global Adoption And Enterprise Customers
Vention employs roughly 330 people and its platform is currently deployed in more than 4,000 factories worldwide. Customers include major industrial and consumer brands such as Boeing, L’Oréal and Lockheed Martin.
Geographically, around 70% of Vention’s customers are based in the United States, 20% in Europe and 10% in Canada. The company sees Europe as a key growth market as manufacturers seek to modernise production amid labour shortages and rising costs.
Automation Gap And Canadian Context
Despite growing interest in AI-driven manufacturing, industrial automation adoption remains relatively low in Canada. Statistics Canada data shows that only 8.4% of manufacturing firms had adopted robotics technologies as of 2022, though those that did saw higher productivity and accounted for a disproportionate share of employment and revenue.
Vention is part of a broader wave of Canadian companies applying AI to physical systems, alongside startups like Waabi in autonomous trucking and Xaba in robotic programming.
With fresh capital, strong revenue momentum and backing from both public and private investors, Vention is positioning itself to play a central role in the next phase of global industrial automation.
