Geomiq, a B2B manufacturing platform from London, provides Instant quotes and Instant ordering of custom manufactured parts through trusted manufacturing partners.
Recently, the company has secured £2.9 million funding in a seed round from a consortium of investors, including Samaipata, Sova VC, Fuel Ventures, Tekton Ventures, and Eka Ventures.
The funding will be used to bolster Geomiq’s UK manufacturing base, enhance its core product development teams, and expand its marketing activities.
Streamlines manufacturing process
Founded by Sam Al-Mukhtar and William Hoyer Millar in 2017, Geomiq aims to connect the world’s best engineers with the world’s best manufacturers.
The platform streamlines the entire manufacturing process from quote to delivery, bringing much-needed transparency to a traditionally opaque contract manufacturing industry.
260 manufacturing partners, 3x YoY growth and more
With more than 260 manufacturing partners, customers can access a vetted network of experienced manufacturers, and ensure that mechanical parts are effectively quoted, manufactured, delivered on time.
The company has witnessed 3x year-on-year growth and has successfully fulfilled over 5 million parts throughout the UK and Europe. It has around 3000 clients including, industry-leading brands such as GE, BMW, Transport for London, and Brompton Bikes.
Proposal to buy human faces
A couple of years back, Geomiq, in a blog post, wrote, that it was approached by the robotics company to find a ‘kind and friendly face to star in their human-looking robots lineup. In exchange for that, the company offered $125K (approx £ 91K) to the person who gets selected.
“There has never been a better time than now for the digital transformation of manufacturing,” says Will Hoyer Millar, Co-founder, and CCO at Geomiq.
“Covid-19 and the rapid rise of Industry 4.0 have pushed manufacturing companies over the technological tipping point, transforming the industry forever, and Brexit is accelerating the shift to ‘Glocalisation’ as businesses focus on balancing localised and globalised supply chains to stay competitive. This is a once in a generation opportunity for reshoring a digitally enabled UK Manufacturing Industry, and platforms such as Geomiq and our Manufacturing Partners plan to lead the way.”
Jose Del Barrio, Founding Partner at Samaipata, said: “Geomiq is perfectly positioned at the forefront of a digital revolution within the manufacturing industry, and has an extremely talented and mission-driven team looking to solve a problem they faced personally as engineers. The team here at Samaipata are thrilled to support Geomiq on their quest to build the world’s best and most sustainable manufacturing supply chain.”
Alex Chikunov, Partner at Sova VC said: “Given how much the manufacturing sector has struggled for a long time with low-volume production, Geomiq’s solution is a potential game-changer. By bringing together manufacturers, entrepreneurs, and doers, Geomiq’s powerful tool could help to disrupt what is a multi-trillion dollar global industry. We are hugely optimistic for the future of the business, and are delighted to be supporting Sam and Will on this journey.”
Sam Al-Mukhtar, Co-founder and CEO at Geomiq, adds: “During a global pandemic, we have proven that online manufacturing as a service (MaaS) plays a critical role in the industry’s future. Primarily driven by supply quality and more demand than ever for a digital and agile solution, we have an ambitious product roadmap, and are set to supercharge our custom technology with the great support of our recent investors, who share our vision for becoming the UK leader in online manufacturing – watch this space!”