Robotics maker Kinova raises $25 mln in FMQ-led financing

Kinova, a Canadian designer and manufacturer of robotic solutions, has secured $25 million in funding. The investment was led by Fonds Manufacturier Québécois, a fund sponsored by Caisse de dépôt et placement du Québec. It was joined by South Korea’s KTB Network, Taiwan’s Foxconn and BDC Capital‘s Growth and Transition Capital. Based in Boisbriand, Québec, Kinova develops robotics platforms to empower people with disabilities and support industrial safety and efficiency. It will use the funds raised to pursue R&D, including in the medical robotics field, sales and marketing, and production. Founded in 2006, Kinova is led by CEO Charles Deguire.

Photo: Prime Minister Justin Trudeau high fives a Kinova robotic hand, March 2017.

PRESS RELEASE

Kinova secures significant funding to invest in accelerating company growth and innovation

BOISBRIAND, QC, Sept. 28, 2017 /CNW Telbec/ – Kinova ®, a designer and manufacturer of robotic solutions, has received funds totaling $25 million from four major contributors, including lead investor Fonds Manufacturier Québécois S.E.C. II; co-investors KTB Network Co., Ltd. (South Korea) and Foxconn (Taiwan); and BDC Capital, the investment arm of BDC (Canada).

We want our users to achieve the extraordinary with our robots – creating more value for themselves and our society,” said Kinova CEO Charles Deguire. “The financial support, broad expertise and geographic coverage of our experienced partners gives us additional resources to accelerate our growth, quickly and strategically establish our presence in new markets, develop an extended line of breakthrough products, and propel our advanced manufacturing capabilities.”


“We want our users to achieve the extraordinary with our robots — creating more value for themselves and our society,” said Kinova CEO Charles Deguire. “The financial support, broad expertise and geographic coverage of our experienced partners gives us additional…

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