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.

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