PAWTUCKET – Teknor Apex Co. is partnering in a new 75-million-euro investment fund, or $87.8 million, in collaboration with OSS Ventures aimed to scale proven industrial software companies throughout North America and Europe, the company announced.
OSS Ventures, a Paris-based venture studio established in 2019 by Renan Devillieres, focuses on creating industrial software to bridge software development and manufacturing operations. The company is opening a new office in Boston and Pawtucket-based Teknor Apex will act as the regional industrial anchor partner, becoming the first U.S. manufacturer to invest in and employ OSS Ventures portfolio software effectively at scale.
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“Manufacturing in the U.S. must become more competitive – and we believe we have a clear path to help make that happen,” said Donald Wiseman, CEO of Teknor Apex. “By integrating real production environments, practical software and the dedicated individuals operating our plants daily, we’re establishing a model for how industrial companies can implement technology in a way that genuinely works.”
According to the announcement, Teknor Apex has integrated three of OSS Ventures’ portfolio companies at their Rhode Island and Tennessee facilities. The goal is to empower manufacturers to scale effectively, promote reshoring and enhance American manufacturing competitiveness, and digitize outdated operations with practical, deployable software.
“As we shape our next 100 years of manufacturing, digital transformation is the sole viable path to not only short-term efficiency but long-term competitiveness,” said Michael Roberts, chief investment officer of Teknor Apex. “By providing industrial software companies access to live production environments – complete with all the complexities and constraints that arise – this partnership fosters the conditions for software that genuinely scales, empowering our personnel and our facilities to operate with greater efficiency.”
Christopher Allen is a PBN staff writer. You may contact him at Allen@PBN.com.
