ST. JOHN’S, Newfoundland and Labrador and TORONTO — November 10, 2025 — Leads & Copy — Intrepid Growth Partners has announced that it is the lead investor in CoLab’s $72 million Series C financing. CoLab, based in St. John’s, NL, provides an AI operating system designed for modern product development, enabling engineering teams to share and review designs and make better engineering decisions.
Insight Partners and Y Combinator joined Intrepid in this funding round.
According to CoLab CEO and co-founder Adam Keating, the company’s momentum in the engineering design review space has been strong. After 47,000 engineers joined the waitlist for CoLab’s first AI agent, launched this summer, the company decided to “double down on the momentum.” Keating added that CoLab received several strong offers to lead the financing round, but chose Intrepid because of its track record and focus on supporting the next generation of AI market leaders.
Intrepid Growth Partners co-founder and partner Ajay Agrawal said that Intrepid believes that industries are being rearchitected based on the application of machine intelligence, and that CoLab is a good example of this. Agrawal added that CoLab was built with a mindset to compete globally.
Intrepid Growth Partners co-founder and Managing Partner Mark Machin noted that machine intelligence has incredible potential, and CoLab is using machine intelligence to deliver tremendous efficiency to its customers. He added that Intrepid is excited to support the founders that are transforming the global economy.
CoLab’s EngineeringOS is utilized by product development teams to conduct virtual design reviews, capturing expert annotations on 2D and 3D files. The resulting dataset powers AI agents that can access a company’s collective technical knowledge and think like an engineer. These agents help customers, including Ford, Johnson Controls, and GE Appliances, avoid repeat design errors and increase product quality while decreasing costs.
Intrepid Growth Partners was founded in 2023 and has invested in StackAdapt, Skin Analytics, and Blue J, which are also powered by AI. Osler advised Intrepid on legal matters, and Deloitte advised on financial matters.
Intrepid Growth Partners invests in machine intelligence-powered companies with demonstrated value creation and transformative potential. The company has offices in Toronto and London.
CoLab builds AI-powered software for mechanical engineering and hardware development teams. Its EngineeringOS platform helps engineers make better, faster design decisions by connecting people, data, and AI in one collaborative workspace, capturing expert knowledge as a natural part of day-to-day work. With AI agents built into the platform, CoLab enables teams to apply that knowledge automatically to improve design quality and accelerate product development. Founded in 2017, CoLab is trusted by leading global manufacturers to drive decision velocity and bring better products to market, faster.
Mark Shulgan, Intrepid Growth Partners co-founder and partner, joins CoLab’s Board of Directors.
Media Relations for Intrepid Growth Partners can be contacted at media@intrepidgp.com or +1 647 855 9507. Press for CoLab can be contacted at press@colabsoftware.com.
Source: CoLab
Source: Intrepid Growth Partners
