Copia Automation Raises $26M to Protect Industrial Code

Copia Automation, a company that sells software for managing and securing code used in factories and industrial plants, raised $26 million in additional funding. The round brings its total funding to $55 million.

AE Ventures and Squadra Ventures co-led the investment. KAS Venture Partners joined them. Existing investors Construct Capital, Lux Capital, Ironspring Ventures, and Renegade Partners also put in more money. The company said the round included both equity and venture debt.

Copia's platform gives operational technology teams visibility into the code that runs programmable logic controllers, variable frequency drives, and other gear that keeps assembly lines, water treatment plants, and oil refineries moving. When a cyberattack hits or a machine goes down, those teams need to quickly find the right version of the code, restore it, and get production back online. Copia’s system keeps a version history, tracks changes, and allows rollbacks.

The new capital will go toward expanding sales and engineering, the company said. Copia is focused on the industrial sector, where a single hour of unplanned downtime can cost millions. The rise of ransomware attacks on critical infrastructure has pushed plant managers and corporate security officers to look beyond IT firewalls and into the control systems themselves.

The co-leads, AE Ventures and Squadra Ventures, both focus on industrial and enterprise technology. KAS Venture Partners is a newer name in the round. The presence of cross-border investors suggests the problem Copia is trying to solve is not limited to one geography.

Total raised now stands at $55 million. The company did not disclose its valuation or revenue figures.