Fictiv, a San Francisco-based contract manufacturing platform, has announced it has raised a $33 million Series C funding round to accelerate the transformation of contract manufacturing and turn it into a global digital ecosystem that enables flexible hardware product development and production. This round of funding was led by G2VP. And new investor Mitsui & Co. is joining returning investors Accel, Bill Gates, Intel Capital, Sinovation, and Tandon Group.
With this funding round, Fictiv will be accelerating its work to digitize and automate the manufacturing workflow. Including this round, Fictiv has raised a total of $58 million.
Fictiv’s cloud-based contract manufacturing platform provides transparency, reduces the resources required for supply chain management, and lowers the cost to access manufacturers around the world.
“Fictiv is developing the software infrastructure required to connect the manufacturing workforce and trillions of dollars of capital equipment,” said Fictiv CEO and co-founder Dave Evans. “In doing so, both product developers and manufacturers will benefit from the efficiencies gained by eliminating unnecessary, repetitive tasks and unlocking employees to focus on creative problem solving.”
Some of Fictiv’s core initiatives include investment in its cloud infrastructure and software tools to streamline workflow and expand its global investment in its cloud infrastructure and software tools to streamline workflow, expansion of its global manufacturing network to increase access to manufacturing capabilities, materials, capacity, and talent.
“With Fictiv, companies are no longer required to invest in large supply chain teams to bring a product to market,” added Fictiv CXO and co-Founder Nate Evans. “Instead, just as companies rely on services like AWS rather than building and managing their own server racks, anyone can leverage Fictiv’s platform and global network to streamline the product development and production process, providing the flexibility to win in today’s competitive global market.”
Some of the features and benefits of Fictiv’s platform include 3D printing, CNC, urethane casting, injection molding, finishing and post-processing services, Automatic Design for Manufacturability (DFM) feedback, online order tracking for visibility on production and shipment status, high-quality global manufacturing experts, online order tracking, and Quality Services.
“We are excited to be part of the digital transformation of the status quo in manufacturing,” explained G2VP partner Daniel Oros. “Fictiv’s innovative tools and services address the critical gap in contract manufacturing that will lead to a massive shift in how consumer and industrial products are manufactured.”