On August 19, 2026, Veeda AI announced that it raised a round of seed financing with backing from Radical Ventures and Khosla Ventures, which co-led the round. The financing will support Veeda AI's development of multimodal foundation world models for physical AI. Veeda AI is a Toronto-headquartered artificial intelligence company building multimodal foundation world models designed to simulate the physical world, creating scalable simulated environments in which embodied AI agents can learn through repeated interaction rather than relying solely on costly and potentially unsafe real-world trial and error, with applications in robotics and embodied intelligence. The company is led by Sanja Fidler, former vice president of AI research at Nvidia, University of Toronto professor and founding member of the Vector Institute, alongside co-founders Huan Ling, chief scientist, and Zan Gojcic, chief technology officer, both former Nvidia researchers. The company, legally named Veeda Innovation Inc., was incorporated in early June 2026, making the financing one of the largest seed rounds ever raised by a Canadian company and one raised within roughly three months of founding. According to reporting citing corporate filings, Veeda issued 60.6 million seed shares at a price of US$1 each, and added Radical partner Tomi Poutanen and Khosla partner Sven Strohband as directors. Reports also noted participation from 2077 Ventures. The capital will fund research hires and compute resources to train generative world models.