CoLab Software Secures $5.6M CAD in Funding

CoLab Software Secures $5.6M CAD in Funding

CoLab Software, a Canada-based provider of a cloud-based collaboration platform for engineering and hardware development teams, has secured CAD 5.6 million in funding.

The funding comes from the Hibernia and Hebron Projects.

The company will use the funding to expand AI talent and accelerate the development of ReviewAI.

CoLab Software is a cloud-based collaboration platform designed to streamline and improve the engineering design review process. Its platform facilitates collaboration by allowing users to review CAD files, manage feedback, and track issues automatically. Key features include automated issue tracking and the AI-powered ReviewAI, which surfaces lessons learned and performs routine design checks. Headquartered in Newfoundland and Labrador, Canada, CoLab Software has partnered with major industry players, including ExxonMobil Canada, Aker Solutions, and several Fortune 50 companies.

Funding Details

Company: CoLab Software Inc.

Raised: CAD 5.6M

Round: Unknown

Funding Date: March 2025

Investors: Hibernia and Hebron Projects

Company Website: https://www.colabsoftware.com/

Software Category: Design Collaboration / Design Review