Desjardins Venture Capital backs Vention

Vention has raised $110 million in new funding to support product development and international expansion.

The round includes participation from Investissement Québec, Desjardins Capital, Fidelity Investments Canada, NVentures, and other institutional investors.

Founded in 2016, Vention develops a combined software and hardware platform used by manufacturers to design, deploy, and operate automation and robotics systems. The company said the funding will be used to expand its software capabilities, grow its catalog of pre engineered automation applications, and scale operations across North America and Europe.

The company reported growing adoption among large enterprise manufacturers that are standardizing automation across multiple facilities using a single platform.