Kinova's $60-million funding for expansion into industrial automation market

On February 2, 2022, Kinova®, a leading privately-held developer of robotic solutions in the medical and industrial markets, announced the closing of investments totaling $40 million ($US 32 million), led by Graham Partners with the participation of Export Development Canada (EDC), and the $20-million ($US 16 million) deal with with the Government of Canada under the Strategic Innovation Fund (SIF).

The fundings will be used to accelerate the development and commercialization of Kinova’s solutions and to augment engineering resources to meet the demands of global customers. The new products for the industrial markets will be announced later in 2022.