we've raised $8.5M to
We’ve raised $8.5m to digitize global manufacturing and deliver industry leading service levels for Engineers and Procurement teams. With this funding we’re expanding in to Europe, accelerating our product plans, and growing our amazing team 🎉
We set out in 2018 to solve an industry wide problem, one we faced every day as engineers by building the platform we always wanted.
Never has our mission been more urgent with global supply chains in chaos, in large part stemming from the pandemic, Brexit and the war in Ukraine there have been backlogs across multiple sectors. This has been particularly painful for Engineers and Procurement Teams in the manufacturing industry which has reached a tipping point.
Global manufacturing remains far behind in terms of digitisation, and geomiq.com is on a mission to solve that.
Today, we’re excited to announce an additional $8.5m funding to deliver on our mission. Allowing customers to shorten development cycles and get products to market faster, with quality manufacturing at lower cost, removing the ‘single point of failure’ that has hampered so many organisations in times of disruption.
The round, led by top investors AXA Venture Partners (AVP) alongside TechNexus Venture Collaborative and existing investors Samaipata and Fuel Ventures, will enable Geomiq to expand its product, build new global Quality Hubs along with the addition of 60 new team members resulting in a 175% increase in headcount.
Our product has gone from strength-to-strength, delivering industry leading service levels for Engineers and Procurement teams, by using technology to offer a reliable choice of manufacturing methods, speed and low pricing from the world’s top performing suppliers. But don’t just take our word for it, here are a few of our favourite customer quotes:
Over the last few years the Geomiq team have supported leading companies including Brompton Bicycles and many more. We are particularly proud to be supporting the UK’s aerospace, automotive, robotic and medical sectors, all of which are at an exciting inflection point. To send parts into space was a particularly exciting moment and we are looking forward to hitting new heights in the years to come.
As you can imagine we have big plans for product, reducing lead times by launching international quality hubs, Machine Learning based matching and pricing algorithms, more transparency that ever, BOM handling, Automating DFM and improving the ability to re-order from inventories.
Sam Al-Mukhtar (CEO & Co-Founder) left, Will Hoyer Millar (CCO & Co-Founder) right
We would like to thank our loyal customers, investors and incredible team for the support they have shown us on the journey to date, and we’re only just getting started.
Interested in seeing what Geomiq.com can do for your organisation? We’d love to chat, either about your next project or you can upload a part for your first quote.
If you’re interested in a career at Geomiq, check out the careers page section below to see the many vacancies we have.
Sam & Will
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Disclaimer: The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of Geomiq. Examples of analysis performed within this article are only examples. They should not be utilized in real-world analytic products as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of any Geomiq Employee.