Maneva Raises $27M USD Series A for AI Vision in Manufacturing

A Toronto AI company founded by a former Alberta welder turned engineer has raised $27 million USD ($38 million CAD) in Series A funding for its manufacturing intelligence software.

The round, announced June 10, was led by first-time Maneva investor US Venture Partners. USVP partner Matt Garratt joins the board. Returning investors Bling Capital and Freestyle Capital participated, along with Canadian firms Seguin Ventures and N49P. Prem Kalevar put together an SPV for the round.

Maneva plans to use the capital to scale its North American presence, expand into Asia, and develop its agentic AI further.

“We can plug into industrial cameras or security cameras–we’re hardware agnostic,” said CEO and founder Rae Jeong. “It can look at specific products, the machines, the overall line … it’s something that just like a human being is able to understand the scene and act from it.”

Founded in 2021, Maneva uses camera feeds at manufacturing facilities to transmit operational data to its proprietary AI platform. The system monitors production, catches defects, flags hazards, and tracks efficiency in real time. Customers include steel and lumber manufacturers, meat processors, pharmaceutical companies, and distribution firms.

Maneva has raised $38.4 million USD to date. Early seed support came from Bay Area investors like Gokul Rajaram.

The platform monitors human workers alongside production lines, measuring productivity while checking for safety hazards. A Maneva media kit claims the system can increase worker productivity by up to 10 percent. The approach fits a broader trend of tech-enabled worker monitoring, including remote keyloggers and the camera-based systems used at Amazon warehouses. Maneva says its data is anonymized.