News Briefs

Fonds de solidarité FTQ invest $15m in growth of Vention

Based in Montreal, Vention is a digital manufacturing automation platform for manufacturers.

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  • Founded in 2016, Vention’s digital manufacturing automation platform allows clients to design, automate, order and deploy manufacturing equipment directly from their web browsers
  • The funds raised will allow the company to continue to grow and democratize industrial automation
  • Last year, Vention closed a $95 million Series C financing led by Georgian

Vention, a Montreal-based digital manufacturing automation platform, has secured a $15 million investment from Fonds de solidarité FTQ.

Founded in 2016, Vention’s digital manufacturing automation platform allows clients to design, automate, order and deploy manufacturing equipment directly from their web browsers. With additional offices Berlin and Boston, the company’s 302 employees serve 4,000-plus customers on five continents and 25 manufacturing industries.

The funds raised will allow Vention to continue to grow and democratize industrial automation, thereby boosting the productivity and competitiveness of manufacturing establishments, the company said in statement.

“Supporting the right technological transition means investing in SMEs, so that they can adopt the new technologies that will make them more productive and competitive while stimulating the creation of value-added jobs,” said Christian G. Brosseau, vice president of private equity and impact investing, structuring capital, energy and evironment, Fonds de solidarité FTQ. “Investing in companies like Vention helps manufacturing SMEs take the right steps. We are therefore proud to support Etienne Lacroix, Max Windisch and the entire Vention team, who offer Quebec manufacturers the solutions they need to meet future challenges.”

Last year, Vention closed a $95 million Series C financing. The round was led by Georgian, with participation from new investor Fidelity Investment Canada and existing investors White Star Capital, Bain Capital Ventures and Bolt Ventures.

Fonds de solidarité FTQ is a labour-sponsored provider of development and growth capital in Quebec. Based in Montreal, it held net assets of C$18.4 billion as at May 31, 2023.