Written by Alex Bredeen
GEOMIQ raise $8.5m to digitise manufacturing
Geomiq have raised $8.5m to digitise manufacturing and deliver industry leading service levels for Engineers and Procurement teams.
We are excited to announce Geomiq have an additional $8.5m funding to deliver on their 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.
What is Geomiq
Geomiq was founded in London in 2017, with the goal of transforming and streamlining the manufacturing industry. Since then, they have become the digital manufacturing platform of choice for over 1200+ professional engineers and procurement teams from over 500 fast-moving hardware companies, and to have partnered with over 220 exceptional suppliers in over 16 countries. Despite this rapid growth, they are building a world where affordable yet world-class innovation is available to all from a single access point.
Why now?
Never has their mission been more prevalent 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.