3 years ago

Geomiq Secures $8.5 Million to Digitize Manufacturing Supply Chains

  • Geomiq, a UK startup that digitizes manufacturing supply chains, has raised $8.5 million (£7 million) in a Series A funding round led by AXA Ventures

  • The company's platform uses machine learning to match manufacturers with suppliers, streamlining the process of securing parts

  • The funding will be used to further develop the company's software, expand its team, and open hubs in China and mainland Europe

  • Geomiq serves clients in the electric vehicle, aerospace, automotive, robotic, and medical industries, and counts Arrival, Brompton Bicycle, and Transport for London among its customers.

      • ProblemTechnology Infrastructure

      "The manufacturing industry is struggling with supply chain disruptions caused by the pandemic, Brexit, and the war in Ukraine. This has led to backlogs and forced companies to embrace digital transformation in their supply chains."

      Solution

      "Geomiq is a digital platform that matches manufacturers with suppliers. It streamlines the process of manufacturers securing the supply of parts by using machine learning to match jobs with partners that have the capacity to immediately start manufacturing the parts."

      Covered on