GEOMIQ raise $8.5m to digitise manufacturing

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 ourselves.

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.

What will this new investment round enable?

With this $8.5m to digitise manufacturing, the team are expanding in to Europe, accelerating their product plans, and growing their amazing team 🎉

Additionally, it 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.

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.

Looking for investment?

If you are an entrepreneur looking for pre-seed and seed investment please email me alexb@fuel.ventures or reach out to me on LinkedIn.

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