Paris-based OSS Ventures, a venture studio and investment firm focused on building and scaling industrial and operations-focused software startups, particularly for factories and physical operations, closed the first $47.3 mn for a new vehicle targeting $88.7 mn.
The fund will provide follow-on capital to industrial software startups built inside its own studio model, with support from lead investors Decathlon Pulse and Teknor Apex.
The structure differs from traditional venture capital. OSS builds companies inside factories, embedding teams alongside operators and plant managers.
Founder Renan Devillières has framed the approach as factory-first, with product validation occurring on the shop floor rather than in pitch decks.
The new vehicle acts as a scaling mechanism for portfolio companies that already demonstrate traction. Capital will not target external founders at ideation stage.
Instead, it supports internally created ventures moving from pilot deployments to broader European and US manufacturing rollouts.
Western economies face pressure to modernize production capacity amid supply chain shifts and renewed industrial policy.
OSS positions software as a lever for competitiveness, arguing legacy systems fail to meet the operational demands of modern plants.
According to Beinsure, venture flows into industrial software remain modest relative to manufacturing’s economic weight, leaving room for focused investors.
Since launching in 2019, OSS Ventures has created 22 active companies serving more than 3,600 industrial sites globally. Portfolio firms including fabriq and Kraaft have collectively raised over $118 mn.
Decathlon Pulse said the partnership supports more agile industrial operations by linking product design with manufacturing execution through practical digital systems.
Teknor Apex’s involvement adds direct manufacturing alignment from a US industrial player.
With nearly half the target capital secured, OSS plans to accelerate international expansion of its portfolio, reinforcing a studio model built around operational proximity rather than distant capital allocation.
