Wikifactory, an online platform for co-creating physical products, has secured a $2.5 million in pre-series funding. The funding will help the company to expand its manufacturing marketplace. The investment was provided by existing shareholders as well as new investors, notably Seier Capital, Lars Seier Christensen’s investment company. This takes Wikifactory’s total funding to approximately $8 million.
Wikifactory enables developers, designers, engineers, and Startups from all over the world to collaborate, prototype, and build hardware solutions that solve real-world issues in real-time.
The firm is trying to create the Internet of Production, a new notion of a distributed, interoperable, open standards-based system that connects product specifications, software services, and manufacturing-as-a-service (MaaS) solutions.
Wikifactory Manufacturing Marketplace
More than 130,000 product developers from more than 190 countries are currently using the platform to create robotics, electric vehicles, drones, agri-tech, sustainable energy appliances, lab equipment, 3D printers, smart furniture, biotech fashion materials, and medical devices.
The most recent amount of money will be used to expand its manufacturing marketplace, which was soft-launched earlier this year. The marketplace, which adds a new revenue source to Wikifactory, will provide an online solution for anybody, anywhere to prototype and create hardware.
It provides online pricing, global delivery, and shorter production times for CNC machining, sheet metal, 3D printing, and injection moulding using 150+ materials and presets from global and local suppliers.
Wikifactory has grown swiftly since its beta launch in 2019, with the company obtaining more than $5 million in initial funding and more than doubling its user base.
The company then released one of its current flagship products, the Collaborative CAD Tool, which is used by Startups, SMEs, and corporations and allows product developers of all skill levels in virtually any industry to explore, review, and discuss 3D models in over thirty file formats in real-time, whether at work, at home, or on the go. A hardware “google doc.”
“The world of manufacturing is going online and with that, opportunities for new players have emerged. Wikifactory is well-positioned to become the go-to-platform for developing and making physical products, and the opportunities to disrupt the entire value chain from design to production in a multi-trillion dollar industry are staggering.
– Lars Seier Christensen, Seier Capital
Lars added, “The collaboration with my current project, Concordium blockchain, will help create a safe environment where all participants can identify themselves with certainty and protect their intellectual property rights.”
“Wikifactory is working towards a bold, completely online alternative to the world’s fragile supply chain model.We’re really pleased that our investors want to make our vision become a reality and their expertise will help us. For example, Lars Seier Christensen will bring his blockchain expertise to the real world of manufacturing.
– Nicolai Peitersen, Co-founder and executive chairman of Wikifactory
Peitersen continued, “We are in a solid position to go mainstream and having their knowledge and experience will enable us to expand into new opportunities and markets for manufacturing and supply chain management.”
Wikifactory, based in Copenhagen, is building new European alliances to foster open innovation and rethink the future of product cooperation.
Wikifactory has also collaborated with the Danish AM Hub, Denmark’s national additive manufacturing focus point.
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