Vention kicks off 2023 with bolstered confidence after strong 2022 performance
January 11, 2023 | By Manufacturing AUTOMATION
Vention, known for its Manufacturing Automation Platform, steps into the new year with renewed confidence and new plans. The company saw significant net revenue growth in 2022 driven by new product launches and expansion in North America and Europe.
“Vention’s mission to democratize industrial automation has never been more relevant. With labour shortage, salary inflation, and reshoring of production, manufacturers are looking for new, innovative solutions to automate their factory floor,” said Etienne Lacroix, CEO and co-founder. “Over the past years, Vention has helped more than 3,000 manufacturers automate their shop floor.”
Vention grew its active customer base by more than 900 new companies and grew its automation partner revenue by 2.9 times. The company released more than eight significant products in 2022, including new software, hardware and applications.
New MachineLogic features were released to raise the ceiling of what can be programmed in a code-free environment. Some of the key features included robot-path visualization, simultaneous motion, multi-controller programming and lambda functions.
MachineCloud, a software for assisted deployment of industrial automation, was launched during Demo Day 2022. This new addition to Vention’s Manufacturing Automation Platform enables software-assisted deployment of automated equipment directly from the cloud to the factory floor with step-by-step guidance.
The company launched a new application, the industrial palletizer, with robotics by FANUC. It also elevated its collaborative applications with the new telescopic lift column. Increasing the reach of robot cells without the need for additional support structures, the column connects directly to the MachineMotion controller using a single cable enabling plug-and-play functionality.
Vention strengthened its alliances with both automation and robotic partners in 2022. It welcomed 50 new partners to its automation network including Groupe MCA (France), Gimic (Sweden), Mid Atlantic Machinery (USA), CIMTEC Automation (USA), and Dominion Automation and Cross Automation (USA). Vention has also added multiple robots to its manufacturing automation platform from major robotics companies, including Universal Robots, FANUC and Doosan Robotics.
In 2022, Vention gained recognition for its business model, innovation and rapid revenue growth of 964 percent from 2018 to 2021. It was awarded multiple recognitions:
- Team True North: Canada’s Top-Performing Tech Companies – COMMUNITECH – June 2022
- Best Workplaces in Manufacturing – Great Place to Work – July 2022
- Canada’s Top Growing Companies – Globe and Mail – September 2022
- Canada’s Most Admired Corporate Cultures Award – Waterstone Human Capital- November 2022
- Deloitte Technology Fast 50 – Deloitte – November 2022
With an increasing demand for Vention’s automated solutions in North America and Europe, Vention opened two new offices in 2022.
Already serving hundreds of clients in Europe since 2020, Vention opened a European headquarter and distribution center in Berlin, Germany in Q1. Global clients operating on the Vention platform are benefiting from a one-stop shop for all their manufacturing automation needs on both sides of the Atlantic. Vention also grew its North American footprint with a new office in Boston, Massachusetts. This expansion provided an opportunity to enhance Vention’s support and tap into Boston’s robotic and software engineering talent.
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