Local precision engineering manufacturers with the Factorem team at an event
Singapore-based manufacturing-tech startup Factorem has closed its seed funding round led by Enterprise Singapore’s investment arm SEEDS Capital and robotics-focused venture builder Blue InCube Ventures.
The investment size remains undisclosed.
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The startup will use the capital to accelerate platform development to achieve faster lead times and more accurate quoting for broader coverage, optimise the manufacturing process further, and expand its global customer base.
The funds will also boost Factorem’s supply chain capacity and capabilities in crucial SEA markets like Malaysia and Vietnam.
“The funding will enable us to continue transforming the world of custom manufacturing in Southeast Asia and beyond,” said Factorem Co-Founder and CEO Alexandra Zhang.
Established in 2020, Factorem is a cloud platform providing end-to-end fulfilment services tailored for on-demand, low volume, and no minimum order quantity parts. The platform offers access to various manufacturing technologies, including CNC Machining, 3D printing, sheet metal fabrication, and surface treatment.
Its core mission is to offer a seamless and hassle-free experience for businesses seeking bespoke and complex custom parts across various industries, such as industrial automation, robotics, biotechnology, and telecommunications.
“We are making ordering bespoke parts as easy as ordering an item from an e-commerce store. At the same time, we are continuously building value-added services for our manufacturing partners and automating workflows,” added Co-Founder and Chief Product Officer Hardik Dobariya.
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The company claims since our last founding three years ago, Factorem’s revenue has grown exponentially by 300 per cent y-o-y, with a portfolio of clients that spans both local and overseas markets.
Factorem’s manufacturing network has grown 10x from ten factories in 2020 to 100 highly vetted factories across Singapore, Malaysia, Vietnam, and South Korea.
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Image Credit: Factorem.
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