Vention
{{Infobox company
| name = Vention
| logo = Vention_logo.png
| type = Private
| industry = Automation
| founded = 2016
| founder = {{ubl|Etienne Lacroix|Max Windisch}}
| hq_location = Montreal, Quebec
| products = {{Ubl|class=nowrap|Manufacturing Automation Platform|Applications|Automated equipment|Robot cells}}
| num_employees = 360
| website = https://vention.io
}}
Vention is a Canadian automation company whose platform combines engineering software and plug-and-play automation components.{{Cite web |date=2022-05-10 |title=Georgian backs Vention again in $123.7 million CAD in Series C round |url=https://betakit.com/georgian-backs-vention-again-in-123-7-million-cad-in-series-c-round/ |access-date=2023-07-11 |language=en-CA}} It supplies parts, designs hardware, and provides e-commerce and 3-D computer-aided design (CAD) software.{{Cite news |date=2022-05-10 |title=Vention latest Canadian technology company to raise $100-million despite rapidly cooling market |language=en-CA |work=The Globe and Mail |url=https://www.theglobeandmail.com/business/article-vention-latest-canadian-technology-company-to-raise-100-million/ |access-date=2023-07-11}} Vention is headquartered in Montreal, Canada,{{Cite news |last=Benessaieh |first=Karim |date=2022-05-10 |title=Vention: 95 millions US et des morceaux de robot |language=fr-CA |work=La Presse |url=https://www.lapresse.ca/affaires/entreprises/2022-05-10/vention/95-millions-us-et-des-morceaux-de-robot.php |access-date=2023-07-11}} and has offices in Berlin, Germany, and Boston, Massachusetts.{{Cite web |date=2023-07-06 |title=Vention remains committed to building a secure platform |url=https://finance.yahoo.com/news/vention-remains-committed-building-secure-080000113.html |access-date=2023-07-11 |website=Yahoo Finance |language=en-US}}
Clients
Vention's customers include engineers at more than 3,000 factories owned by companies such as Toyota, General Electric, Tesla, Siemens, and Airbus, as well as Google, Amazon, Boeing and Lockheed. Customers create, design and order custom equipment on Vention's online platform to be used in their production lines, including test benches, robot work stations and assembly lines. The company launched code-free robot programming tools to let users program their robot in the cloud, order the entire robot cell, and deploy it on their manufacturing floor.
History
In 2016, Vention was founded in Montreal, Canada by Etienne Lacroix, a former General Electric Co. product manager and McKinsey consultant,{{Cite news |date=2020-06-02 |title=Montreal’s Vention raises $38-million, joining slew of Canadian startups helping factories automate faster |language=en-CA |work=The Globe and Mail |url=https://www.theglobeandmail.com/business/article-montreal-startup-vention-raises-38-million-in-venture-capital/ |access-date=2023-07-11}} and Max Windisch.
In 2017, Vention raised $3.5M USD with support from White Star Capital, Bolt, and Real Ventures.{{Cite news |date=2018-01-16 |title=Montreal entrepreneur sets sights on upending industrial design and manufacturing world |language=en-CA |work=The Globe and Mail |url=https://www.theglobeandmail.com/report-on-business/montreal-entrepreneur-sets-sights-on-upending-industrial-design-and-manufacturing-world/article37614176/ |access-date=2023-07-11}} In the same year, Vention announced the beta launch of its 3D CAD software - MachineBuilder.{{Cite web |last=Admin |date=2017-02-23 |title=Vention.io Announces Beta Launch 3D Machine Builder Platform |url=https://www.digitalengineering247.com/article/vention-io-announces-beta-launch-3d-machine-builder-platform |access-date=2023-07-11 |website=Digital Engineering |language=en}}
Vention launched its MachineMotion controller and MachineApps to create a plug-and-play approach when programming equipment motions in 2018.{{Cite news |last=Codère |first=Jean-François |date=2018-01-17 |title=Fort attrait pour les machines sur mesure de Vention |language=fr-CA |work=La Presse |url=https://www.lapresse.ca/affaires/economie/fabrication/201801/17/01-5150306-fort-attrait-pour-les-machines-sur-mesure-de-vention.php |access-date=2023-07-11}} The following year, Vention raised $13M USD in Series A funding, led by Bain Capital Ventures.{{Cite news |date=2019-01-15 |title=Vention Inc. of Montreal raises $17-million in financing led by Bain Capital Ventures |language=en-CA |work=The Globe and Mail |url=https://www.theglobeandmail.com/business/technology/article-vention-inc-of-montreal-raises-17-million-in-financing-led-by-bain/ |access-date=2023-07-11}}{{Cite news |last=CODÈRE |first=JEAN-FRANÇOIS |date=2019-01-16 |title=17 millions additionnels pour Vention |language=fr-CA |work=La Presse |url=https://www.lapresse.ca/affaires/economie/fabrication/201901/16/01-5211210-17-millions-additionnels-pour-vention.php |access-date=2023-07-11}} In the same year, Vention launched MachineLogic, a code-free environment to program, simulate, and deploy industrial automation sequences.
Vention raised $30M USD in Series B funding in 2020, led by Georgian Partners, Bain Capital Ventures, and White Star Capital.{{Cite news |last=Codère |first=Jean-François |date=2020-06-02 |title=Vention ne veut pas être "seulement une licorne" |language=fr-CA |work=La Presse |url=https://www.lapresse.ca/affaires/entreprises/2020-06-02/vention-ne-veut-pas-etre-seulement-une-licorne |access-date=2023-07-11}} Vention opened an EMEA office in Berlin, Germany in 2021 to provide assistance to manufacturers on both sides of the Atlantic. In the same year, Vention announced alliances with FANUC, OnRobot, and Universal Robots.{{Cite web |last=Oitzman |first=Mike |date=2021-05-28 |title=Vention partners with OnRobot and FANUC |url=https://www.cobottrends.com/vention-partners-with-onrobot-and-fanuc/ |access-date=2023-07-11 |website=Collaborative Robotics Trends |language=en-US}}
In 2022, Vention raised over $95M USD in Series C financing, led by Georgian and Fidelity, and opened a new office in Boston, Massachusetts. In the same year, Vention launched MachineCloud, software for assisted industrial automation deployment.{{Cite web |last=Bureau |first=E. T. |date=2022-10-26 |title=Vention Launches MachineCloud Software |url=https://enterprisetalk.com/news/vention-launches-machinecloud-software/ |access-date=2023-07-11 |website=EnterpriseTalk |language=en-US}}
Vention opened a new distribution center in Montreal, Canada in 2023 with over 70,000 sq feet to assemble, test, package, and ship all North American orders. In the same year, Vention opened its Vention Experience Center, a training and development center in its Montreal headquarters, to train automation practitioners.{{Cite web |date=2023-04-21 |title=Vention unveils new experience centre in its Montreal headquarters - Manufacturing AUTOMATIONManufacturing AUTOMATION |url=https://www.automationmag.com/vention-experience-centre-montreal/ |access-date=2023-07-11 |website=www.automationmag.com |language=en-US}}