California-based on-demand manufacturing platform, Fictiv, has received $33 million in Series C funding. The latest funding will be used to automate the manufacturing workflow.
Founded by Dave Evans and Nate Evans, Fictiv couples AI with a range of manufacturing methods such as 3D printing, CNC, injection molding and urethane casting to streamline production. As we reported in 2016, Fictiv had some impressive ambitions.
Dave Evans, Fictiv’s CEO said, “Fictiv is developing the software infrastructure required to connect the manufacturing workforce and trillions of dollars of capital equipment.”
“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.”
Manufacturing on demand
Fictiv has over 200 manufacturing partners in the U.S and China. Each partner is chosen by the company after a vetting process which includes interviews, reviews of the samples and inspections of the manufacturing facilities.
The on-demand service bureau takes its customers from product development to manufacturing. Its web-based CAD platform lets users share designs for reports and feedback. Furthermore, Fictiv’s machine-learning algorithm also ensures that every 3D model conforms to the Design for Manufacturability (DFM) practices.
Nate Evans, CXO of Fictiv explained, “With Fictiv, companies are no longer required to invest in large supply chain teams to bring a product to market”
“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.”
As quality control is an essential part of manufacturing, parts made by Fictiv go through the ISO-9001 quality assurance (QA) procedure. The QA procedure also includes reports used in the automotive and aerospace industry, such as the first article inspection (FAI) and product part approval process (PPAP).
In the past, Fictiv’s on-demand manufacturing capabilities have been leveraged by Facebook’s EdMod Labs to develop a DIY VR viewer and Lim Innovations, a prosthetic manufacturer, to prototype and manufacture prostheses.
Expanding digital manufacturing
Last year Fictiv received a funding of $15 million in series B round to expand its operation to China. This funding round was led by Sinovation Ventures, co-founded by the Taiwanese venture capitalist and former Google China President Kai-Fu Lee. The funding partners also included venture firms such as Accel, Intel Capital, FJ Labs, and Tandon Group and also Bill Gates.
The Series C round was led by California-based venture firm, G2VP, and was joined by Mitsubishi’s investment wing, Mitsui & Co., as a partner, and previous funding members.
Daniel Oros, Partner at G2VP, said, “We are excited to be part of the digital transformation of the status quo in manufacturing”
“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.”
After round C, the total funding in Fictiv amounts to $58 million.
To learn more about cloud manufacturing subscribe to our 3D printing newsletter and join us on Facebook and Twitter.
We also have jobs in the industry, register yourself at our 3D Printing Jobs page to receive job updates.
Featured image shows a prosthetic made for Lim Innovations with urethane casting method. Image via Fictiv.
