VC fundraising for industry 4.0 companies
Industry 4.0 funding has stayed steady through the cycle on industrial digitalisation budgets and the reshoring tailwind. Investors back operators with multi-site enterprise deployments, demonstrable ROI and meaningful recurring software revenue; pre-product or single-customer operators have not raised at attractive terms. Capital is concentrated in MES, predictive maintenance and industrial IoT platforms.
The active investor mix runs across industrial software specialists, vertical B2B SaaS growth funds, deep-tech investors (Lux, DCVC, 8VC) where the hardware-software stack is meaningful, and the corporate venture arms of the industrial automation majors - Bosch Ventures, Siemens Energy Ventures, Schneider Electric Ventures - where enterprise reference customers and strategic distribution matter. Flow has direct relationships with the specialist funds, growth investors and CVCs active in the category.
Flow has experience running VC fundraising processes for Industry 4.0 companies across MES and manufacturing operations, predictive maintenance and asset performance, industrial IoT platforms and edge, digital twin and simulation, and connected-worker and quality systems. Our extensive investor network spans early-stage seed funds, growth-stage investors, and strategic and corporate VC arms.
"Industry 4.0" KPIs VC investors look at
The metrics venture investors benchmark before pricing a round - in diligence, at the IC table, on the term sheet.
Sites / plants deployed
Software ARR
Customer ROI / payback
Net revenue retention
Gross margin (recurring vs services)
Implementation backlog
Partner-influenced bookings
Connected assets / devices
Module attach
Active enterprise accounts
Industry 4.0 valuations in May 2026
Public industry 4.0 comps trade at 3.4x EV/Revenue. Median revenue multiple across industry 4.0 VC rounds was 10x in the last 12 months.
3.4x
Median EV/Revenue as of May 2026 for public industry 4.0 companies
16x
Tesla is the highest valued public industry 4.0 company based on EV/Revenue (excluding outliers)
3.0x
Median EV/Revenue across industry 4.0 M&A deals in the last 12 months
10x
Median EV/Revenue across industry 4.0 VC rounds in the last 12 months
Key recent industry 4.0 VC rounds
$1.4B Series C raised by Skild AI was the largest industry 4.0 VC round completed in the last six months.
See all industry 4.0 VC rounds| Logo | HQ | Description | Investors | |||||
|---|---|---|---|---|---|---|---|---|
Jan-26 | Skild AI |  | Skild AI is a San Francisco-headquartered startup building foundation models for robotics that enable spatial intelligence and adaptive manipulation in unstructured environments. The company trains multimodal AI on real-world data from humanoid robots to handle tasks like grasping and navigation without task-specific programming. Skild AI raised funding from investors including Benchmark and focuses on warehouse automation and manufacturing applications. | 1789 CapitalAlpha Square Group+10 | $1.4B | $14B | Series C | |
Feb-26 | Apptronik | | Apptronik is an Austin-based developer of humanoid robots including the Apollo model for logistics, manufacturing, and service applications. The company builds general-purpose robots capable of handling repetitive tasks in warehouses and hazardous environments to boost human productivity. Apptronik collaborates with NASA and delivers systems through its manufacturing services division, focusing on bipedal mobility, dexterity, and AI-driven autonomy. | AT&T VenturesB Capital+6 | $520M | $5.3B | Series A | |
Feb-26 | Inertia | | Inertia is a San Diego-headquartered platform for construction management using location intelligence. The software integrates BIM drawings with real-time site data for project, quality, performance, and compliance oversight. Serving commercial, healthcare, education, and transportation sectors in the US, Inertia reduces delays and cost overruns through proactive issue detection. | Bessemer Venture PartnersGV+7 | $450M | - | Series A | |
Nov-25 | Apptronik | | Apptronik is an Austin-based developer of humanoid robots including the Apollo model for logistics, manufacturing, and service applications. The company builds general-purpose robots capable of handling repetitive tasks in warehouses and hazardous environments to boost human productivity. Apptronik collaborates with NASA and delivers systems through its manufacturing services division, focusing on bipedal mobility, dexterity, and AI-driven autonomy. | - | $331M | $5.3B | Undisclosed stage | |
Feb-26 | Temporal Technologies | | Temporal Technologies is a San Francisco-headquartered developer of an open-source platform for reliable workflow orchestration in microservices and cloud applications. Founded in 2020 by former Uber engineers, Temporal supports fault-tolerant execution for long-running processes used by companies like Stripe, Netflix, and DoorDash. Its SDKs in Go, Java, and TypeScript handle retries, state management, and sagas across distributed systems worldwide. | Amplify PartnersAndreessen Horowitz+7 | $300M | $5.0B | Series D | |
Jan-26 | Ricursive Intelligence | - | 49PalmsDST Global+5 | $300M | $4.0B | Series A | ||
Dec-25 | Qingwei Intelligent Technology |  | Qingwei Intelligent Technology is a Shanghai-based fabless semiconductor firm founded in 2017 that designs RISC-V processors such as the TM8201 series for edge artificial intelligence applications. These reconfigurable chips emphasize ultra-low power consumption below 1 watt while supporting speech recognition and computer vision tasks. Deployed in consumer electronics like smart speakers and wearables, the processors enable efficient on-device AI processing without cloud dependency. The company holds multiple patents in neural network acceleration and partners with domestic foundries for mass production targeting IoT devices across China. | Beijing Energy | $283M | - | Series C | |
Feb-26 | Bedrock Robotics | | Bedrock Robotics is a San Francisco-headquartered company deploying autonomous robots for construction site tasks like rebar tying, concrete finishing, and material handling. Its machines operate in GPS-denied environments using LiDAR and computer vision for precision work. Bedrock Robotics targets large-scale infrastructure projects, partnering with general contractors on U.S. highways and high-rises. The firm raised seed funding to expand its fleet to 100 units by 2024. | 8VCC4 Ventures+10 | $270M | $1.8B | Series B | |
Jan-26 | Cellares | | Cellares is a South San Francisco-headquartered cell therapy manufacturing platform provider. The company offers the Cell Shuttle, a robotic system producing 50 patient doses simultaneously for CAR-T and stem cells. Cellares raised $180 million in 2022 and partners with Takeda. Founded in 2019, its facilities support GMP production. | Baillie GiffordDecheng Capital+8 | $257M | - | Series D | |
May-26 | Armada | | Armada provides an Edge Platform combining connectivity, AI compute, and management for remote operations in oil & gas, manufacturing, and logistics. Products include Atlas for asset monitoring and Galleon rugged data centers. The marketplace offers third-party hardware and software integrations. | Blackrock InvestmentFelicis+10 | $230M | $2.0B | Series B | |
Jan-26 | VulcanForms | | VulcanForms is a Burlington-headquartered digital foundry that operates a 100,000-square-foot additive manufacturing facility using proprietary multi-laser metal 3D printing. Established in 2015, it produces complex parts for aerospace, defense, and medical sectors, serving clients like GE Aviation with production rates up to 80 kg per hour per machine. | 1789 CapitalEclipse Ventures+3 | $220M | - | Series D | |
Feb-26 | Lingxin Qiaoshou | | Lingxin Qiaoshou is a developer of embodied intelligent platforms centered on dexterous robotic hands integrated with cloud-based AI brains for automation tasks at linkerbot.cn. | Caixin CapitalChengzhu Investment Management+10 | $218M | - | Series B | |
Dec-25 | Roark Aerospace |  | Roark Aerospace is a Washington-headquartered developer of autonomous defense systems. Products include drone detection radars, counter-UAS effectors, unmanned ground vehicles, and hyperspectral sensors. The firm deploys drone-for-robot swarms and edge-based C2 platforms for real-time warfare. Roark Aerospace serves US military and allies with persistent surveillance solutions. | - | $210M | $1.8B | Series B | |
Apr-26 | ENGINEAI | | ENGINEAI is a Shenzhen-headquartered robotics company established in October 2023. Shenzhen EngineAI Robotics Technology Co., Ltd. develops general intelligent robots and industry solutions, including humanoid robots for scientific research, education, industrial manufacturing, commercial services, and household applications. | Hardcore Nut CapitalBeijing Changping Science and Technology Park Development Group+10 | $200M | - | Series B | |
Feb-26 | Zhuji Dynamics | | Zhuji Dynamics is a Zhuji-headquartered robotics company focused on research, development, and production of general-purpose footed robots with emphasis on sports intelligence applications. | Caixin CapitalChina Securities HK+10 | $200M | - | Series B |
VC investors active in industry 4.0
Y Combinator is the most active VC investor across industry 4.0, having invested in 87 startups in the last three years.
See all industry 4.0 VCs| Logo | HQ | Description | Key portfolio | |||
|---|---|---|---|---|---|---|
Y Combinator | | Y Combinator is a San Francisco-headquartered startup accelerator that funds and mentors early-stage technology companies across sectors like software, biotechnology, and fintech. Since its inception in 2005, it has propelled alumni including Airbnb, Dropbox, and Stripe through intensive three-month programs featuring Demo Days and investor networks. | ConduitAutosanaAllus AI+2 | 87 | Pre-seed | |
Antler |  | Antler is a Singapore-headquartered global venture capital firm founded in 2017 that invests in early-stage tech companies. It operates day-zero programs in 27 cities, backing 1,000+ startups with $100 million deployed annually across AI, fintech, and sustainability. Portfolio includes unicorns like Hold One and Tiqets, with a network of 3,000 mentors and 700+ investors for follow-ons. | EnaxiomOTeeCraftif AI+2 | 59 | Pre-seed | |
Techstars | | Techstars is a Boulder-headquartered global network founded in 2006 that operates over 50 accelerators annually across 15 countries. It invests $120,000 in exchange for 6 percent equity in 500 startups yearly, spanning AI, sustainability, and healthcare. The firm manages a venture fund deploying capital into alumni companies and runs corporate partnerships with brands like Amazon and Barclays for innovation pilots. Techstars portfolio exceeds 3,500 companies valued over $15 billion collectively. | SeasatsAutomotusCERPRO+2 | 55 | Pre-seed | |
CDP Venture Capital |  | CDP Venture Capital Sgr manages the National Innovation Fund in Italy, channeling investments into deep tech startups and scaleups. Rome-based, it supports hardware, biotech, and AI ventures to foster the domestic venture ecosystem under public-private partnerships. | Postura ErgonomicsGenerative BionicsFinapp+2 | 26 | Seed | |
Alumni Ventures | | Alumni Ventures is a Manchester, New Hampshire-headquartered venture capital firm managing diversified portfolios for 10,000 accredited investors. Operations run 50 funds targeting seed through Series B stages in AI, biotech, and climate tech. Sourcing draws from 1,000 university alumni networks with co-investments alongside Sequoia and a16z across 1,400 portfolio firms. | OsmoCoreStoryCassidy+2 | 26 | Seed | |
Bpifrance |  | Bpifrance is a Paris-headquartered public investment bank owned by the French state and Caisse des Dépôts that finances SMEs, mid-caps, and innovation projects. It offers loans, equity, guarantees, and export financing through funds like Large Venture and InnoBio, operating via 50 regional offices across France. | GeolinksMiura SimulationHummink+2 | 25 | Seed | |
Plug and Play | | Plug and Play is a Sunnyvale-headquartered venture builder founded in 2006 that operates accelerator programs in 40 industries including fintech, insurtech, and mobility across 50 global offices. It connects over 3,000 startups annually with partners like Google, Visa, and Mercedes-Benz through demo days and corporate innovation challenges. The platform invests in seed and Series A rounds while providing co-working spaces in hubs from Silicon Valley to Singapore. | Nexxa.aiArchetype AIIndustrialMind+2 | 24 | Seed | |
Khosla Ventures | | Khosla Ventures is a Menlo Park-headquartered venture capital firm investing in early-stage companies across AI, climate technologies, digital health, and enterprise software. Founded in 2004 by Vinod Khosla, it has backed over 1,000 startups including DoorDash, Square, and Impossible Foods, managing more than $15 billion in assets committed. | UptoolAutomat AIMimica Automation+2 | 23 | Series A | |
Fortune Venture Capital | | Fortune Venture Capital is a Shenzhen-headquartered firm investing in China's TMT, consumer services, modern agriculture, and clean technology sectors. Established in 2000, it has backed over 100 companies including exits via IPOs on Shenzhen and Hong Kong exchanges. Fortune manages multiple RMB and USD funds, providing follow-on investments and operational support. As vice president of Shenzhen Venture Capital Association, it focuses on Series A to C rounds across Guangdong province and nationwide. | Gongda LaserElite RobotsSenad Technology+2 | 22 | Series A | |
General Catalyst | | General Catalyst invests in early-stage to growth companies across healthcare, fintech, enterprise software, and consumer sectors from offices in Cambridge, San Francisco, and New York. The firm manages over $25 billion in assets, backing unicorns like Airbnb, Stripe, and Canva. It supports applied AI initiatives through dedicated funds and provides operational expertise via its Resilience platform. | OrbemDiffraqtionDryft+2 | 21 | Series A |
Founders and investors we've worked with
We've supported winning builders across industry 4.0 and beyond.
Metaloop
We acted as fundraising advisor to Metaloop, an Austrian online marketplace for scrap metal trading, on its seed round with FJ Labs, helping shape its KPI-driven equity story.
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Orka
We advised Elysian Fields on its investment into Orka, a Reykjavik-based portfolio of online consumer lending platforms, supporting deal structuring and growth-capital deployment in the Icelandic fintech market.
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GoTrendier
We advised GoTrendier, the leading second-hand fashion marketplace in LatAm (Mexico and Colombia), on its $14m Series B fundraise led by IDB.
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Ziik
We acted as fundraising advisor to Ziik, a Copenhagen-based all-in-one social intranet and internal communication SaaS platform, on its growth funding round.
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Sentryc
We led the capital raising process for Sentryc, a Berlin-based AI-driven brand protection and IP software provider, on its growth round led by Seventure Partners.
See moreRecent VC fundraising track record
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