Rise up from that pile of 45x45mm high-precision extruded aluminum for a moment and pay attention. Vention has announced a $38M CAD ($28.1M USD) series-B financing round to spread its cloud-based machine-building bliss far and wide. This brings their funding total to $58.5M CAD ($43.4 USD) since their first Seed Round in 2018.
The funding was led by Georgia Partners who have a software specialized ‘Impact Team’ to accelerate their investment’s software initiatives. For Vention, this entails expanding the use of ‘artificial intelligence and machine learning for machine design and digital supply chains.’
Etienne Lacroix, Vention’s founder and CEO, says, “This funding will let us accelerate our software and hardware product roadmap, support our clients on increasingly more complex automation projects, and continue to expand our international presence.”
As I’ve said in the past, the applications for this spread far beyond machine design, but Vention has started out with a focus that hits a wide set of industries where custom equipment builds are constantly needed in a sector no one else is thinking about.