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Inovia Capital

Venture capital investing in tech startups

Overview

Inovia Capital backs technology startups and growth-stage companies worldwide, spanning B2B and B2C markets. It provides equity funding from seed to IPO and beyond, plus strategic guidance, mentorship, and industry insights. The firm operates four venture funds, two growth funds, and a continuation fund to support investments at multiple stages. Its goal is to help founders build enduring global technology companies and generate meaningful returns through exits or public offerings, while prioritizing diversity and strong founder relationships.

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About Inovia Capital

Simplify's Rating
Why Inovia Capital is rated
B-
Rated B on Competitive Edge
Rated B on Growth Potential
Rated C on Differentiation

Industries

Venture Capital

Company Size

51-200

Company Stage

N/A

Total Funding

$6.4B

Headquarters

Montreal, Canada

Founded

2007

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What believers are saying

  • July 2026: Inovia co-led Peripheral’s $8.7 million round with Deloitte Ventures.
  • July 2026: Inovia backed Skyfall AI, a fresh autonomous-enterprise thesis led by Maluuba alumni.
  • July 2026: Inovia joined Guesty’s $130 million Series F and won a board seat.

What critics are saying

  • July 2026: StrongestLayer and Skyfall AI show heavy exposure to speculative AI theses.
  • Q2 2026: Inovia reported only two exits, keeping DPI and carry dependent on future liquidity.
  • If portfolio winners like Guesty, Peripheral, and Skyfall stall, Inovia’s brand loses fundraising credibility.

What makes Inovia Capital unique

  • June 2026: Discovery tracks 1,200 companies, widening Inovia’s sourcing moat.
  • May 2026: Discovery by Inovia x Northleaf expands early-stage Canadian venture coverage.
  • Inovia spans seed-to-growth funds, giving founders one firm across financing stages.

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Funding

Total Funding

$6.4B

Above

Industry Average

Funded Over

0 Rounds

Company News

TechCrunch
Nov 6th, 2026
Physicl raises $10M to build realistic simulations for training robots

Physicl, a startup that builds realistic digital worlds to train robots, has raised $10 million in seed funding from Inovia Capital. Founder and chief executive Alex de Vigan previously built nfinite, a platform for 3D product renderings for e-commerce. Generative AI overtook that business, so he is repurposing the technology to make simulations that follow real-world physics. Physicl is releasing Studio, which has 10,000 3D environments and 100,000 object assets. Users can create scenes to generate synthetic data for specific problems, such as a robot struggling to spot a cup on a cluttered counter or in shadow. World model builder SpAItial is an early customer. Physicl faces a crowded field of data and tooling providers.

GlobeNewswire
Nov 6th, 2026
Physicl raises $10 million to solve physical AI's edge case gap.

Physicl raises $10 million to solve physical AI's edge case gap. New Studio app lets researchers generate actionable data tailored to their models' weak spots. November 06, 2026 08:00 ET | Source: Physicl PARIS, Nov. 06, 2026 (GLOBE NEWSWIRE) - Physicl, a platform for generating targeted training data for physical AI, today announced $10 million USD in seed funding, led by Inovia Capital, with participation from US Venture Partners, to address physical AI's edge-case problem. Physicl also introduced Studio, which lets researchers generate customized environments and high-fidelity physical training data with precise ground-truth, targeted to improve models on specific shortcomings. For physical AI to advance from labs to broad deployment, models need to be able to operate reliably within every situation and environment. However, capturing sufficient quantities of data to accomplish this in pre-training is nearly impossible given the long-tail of scenarios they can encounter in the real world. Physicl lets teams generate ground-truth data for targeted post-training on the specific situations their models fail in, giving researchers a reference against which to train and evaluate their models. The company works with AI labs including Meta, World Labs, Epic Games and SpAItial, helping them create the data needed to train and evaluate increasingly capable models. "An impressive demo doesn't tell you how a model will perform in all the situations it could encounter " said Alex de Vigan, founder and CEO of Physicl. "Models fail on edge cases. When researchers find these weaknesses, they need a way to generate data that specifically addresses them and test whether the model improves. We built Physicl to make that process easy and repeatable." Founded by entrepreneur Alex de Vigan, Physicl represents the culmination of six years of work in 3D, simulation, and machine learning. The company grew out of Vigan's experience building 3D infrastructure at scale and is now applying that expertise to one of physical AI's emerging bottlenecks: providing researchers with the data required to systematically train and evaluate models against the long tail of real-world conditions. The seed funding will be used to expand the team and further advance Physicl's platform as robotics and world models move toward broad deployment. "We believe physical AI represents one of the most significant emerging opportunities in technology, but the industry still faces fundamental challenges in translating model capabilities into real-world performance. Physicl is tackling a critical piece of that puzzle: scalable, high-quality physical data grounded in real-world physics. That's what makes this team and its approach so compelling to us," said Steve Woods, Partner at Inovia Capital. Introducing Studio The company's first offering, Studio, provides access to 10,000 ground-truth 3D environments, more than 100,000 assets, and billions of possible scene variations. AI researchers can select an environment or describe the scene in which their model struggles, and then adjust variables like lighting, camera viewpoint, and object placement to recreate specific conditions. The app then generates targeted data focused on the identified weakness. With Studio, edge cases that have been nearly impossible to capture sufficient data for can now be reproduced at scale. Researchers can recreate a failure, test fixes and measure progress in a continuous loop, providing a direct path to reach the level of reliability needed for broad deployment. "A home robot might be able to recognize a cup on a clear counter, but miss it when clutter hides half of it or once the sun sets and shadows change in the kitchen," continued de Vigan. "Physical AI teams are faced with challenges like this daily. Studio helps teams recreate those situations, generate variations with precise ground-truth, and train directly against the conditions where their model has failed in the past." Physicl's collaboration with SpAItial, a developer of world models that generate explorable 3D environments, shows how its high-fidelity physical data can address a specific model weakness. SpAItial's model was struggling with high error rates when reconstructing real rooms. By adding data generated with Physicl library to its model's training data, SpAItial more than halved the model's reconstruction error rate. "Physicl gives any researcher access to virtually any physical training data they can imagine. That changes what a small team can build in physical AI, and we saw it in our results right away," said Matthias Niessner, SpAItial's CEO and Professor of Computer Science at Technical University of Munich. About Physicl Physicl was founded by entrepreneur Alex de Vigan and represents the culmination of six years of work in 3D, simulation, and machine learning to build the data infrastructure for the deployment stage of physical AI. The company works with leading AI labs and universities, including AWS, NVIDIA, Meta, World Labs, and Technical University of Munich to deliver the targeted, actionable training data needed to continue advancing physical AI. Physicl is supported by advisers with expertise from World Labs, Hugging Face, Adobe, Carnegie Mellon University, and more. The company is backed by Inovia Capital, U.S. Venture Partners, and Insight Partners.

Yahoo Finance
Oct 29th, 2026
Cohere targets $5.1B Series E at $26B valuation, led by Schwarz Group, in Canada's largest private raise

Cohere, the Toronto-based sovereign AI provider, has announced the initial close of a Series E round targeting up to C$7 billion at a C$35.7 billion valuation. It would be the largest private raise by a Canadian technology company. Schwarz Group leads the round. New investors include Bell Ventures, Bullhound Capital, and the Government of Canada, while Inovia Capital, NVIDIA, and Prosperity7 Ventures are returning backers. Cohere will use the funds for its model and product roadmap, AI tools for regulated industries, and long-term compute infrastructure. The company ended the third quarter of 2026 with 165% year-over-year annual recurring revenue growth. Its customer base grew 20x to 300 customers over the past year.

wallstreet:online AG
Oct 27th, 2026
Wealthsimple raises $309M at $10B valuation in GIC-led round

Wealthsimple has agreed to an equity round of up to C$425 million at a post-money valuation of C$13.8 billion, the Toronto-based financial services company announced on October 27, 2026. The round includes a $300 million primary offering and a secondary of up to $125 million, which lets employees share in the value they helped create. GIC leads, joined by existing investors Power Corporation of Canada, IGM Financial, ICONIQ, Canada Pension Plan Investment Board, and Inovia. The company will use the new capital to speed up its product roadmap, including business, everyday spending and chequing, trading, and investment products. "These investors know our business deeply and chose to increase their commitment," said Michael Katchen, chief executive officer and co-founder.

Canada News Media
Oct 20th, 2026
Inovia hits US$200M first close on sixth VC fund.

Inovia hits US$200M first close on sixth VC fund. Montreal-based Inovia Capital has closed US$200 million (C$282 million) in a first close of its sixth early-stage venture fund, putting it more than halfway to a US$325 million target, according to BetaKit, which reported the firm announced the close on LinkedIn on Oct. 19. The first close took about six months, BetaKit reported. Inovia is aiming to reach its US$325 million target by the first quarter of 2027. With the close, the firm's assets under management reach US$2.7 billion. Partner Karamdeep Nijjar called Fund VI the firm's "first completely AI-native fund" and said the progress came in a "tough fundraising market" because of trust built with limited partners "over many years," BetaKit reported. The fund is expected to be similar in strategy and size to Fund V, which closed at US$325 million in 2022. Inovia plans 15 to 20 core investments at the seed to Series A stages across North America and Europe, with a focus on AI-native startups and frontier technologies such as cybersecurity, infrastructure, developer operations, energy, compute, robotics and quantum. The backers in the first close are returning limited partners, most of them Quebec or federal public and quasi-public institutions: the Business Development Bank of Canada, the Caisse de dépôt et placement du Québec, CIBC, Fondaction, Fonds de solidarité FTQ, Investissement Québec and Teralys Capital. That mix matters for Canadian founders. Public money from Quebec and Ottawa remains a main source of capital for domestic early-stage funds, at a time when Canadian venture fundraising is difficult. Inovia's close follows other Canadian AI-focused fund announcements, including Radical Ventures' $1-billion fund and the three AI funds totalling $2.5 billion that were announced last month. Six partners will oversee Fund VI: Nijjar, Magaly Charbonneau, Shawn Abbott, Kory Jeffrey, Taha Mubashir and Steve Woods. Jeffrey and Mubashir were promoted to partner last year, BetaKit reported. Nijjar said Fund V has posted top-quartile performance against Cambridge Associates and Carta benchmarks, citing portfolio companies Cohere, Flare, Gaia and Spellbook. Those figures are Inovia's own claims and were not independently verified. Cohere, one of Canada's best-known AI companies, recently agreed to buy cybersecurity firm Aisle, one of the areas Fund VI says it will target. Inovia's growth equity team, led by partner Mia Morisset, has raised US$365 million of a planned US$450 million for its third fund, according to BetaKit. The firm is also co-launching a US$100-million Venture Scientist Fund with the Quebec AI institute Mila, which was announced earlier this year. The fund has not yet reached its target, and the final close figures could change. Inovia's own announcement was not independently reviewed by Canada News Media. If you find reporting like this useful, consider supporting Canada News Media, an independent Canadian newsroom with no corporate parent. Follow Canada News Media Get the day's top Canadian stories and its two daily 60-second news videos wherever you scroll.

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