Fictive announced from the Intel Capital Global Summit that it closed a $15 million Series B led by Innovation Ventures with participation from Accel, Intel Capital, Bill Gates, FJ Labs, Tandon Group and the Stanford-StartX Fund. The company also demonstrated new workflow optimization tools and opened offices in Guangzhou, China.
The company claims its platform is used by Silicon Valley innovators in electric and autonomous automobiles, medical robotics, and consumer electronics. Fictive CEO Dave Evans underscored the unreasonably high barriers that designers and engineers have historically faced when bringing a product to market.
The San Francisco, the CA-based startup says it is "democratizing" access to manufacturing, transforming how hardware teams design, develop and deliver physical products. “Fictive is creating a new world order in which software is democratizing access to fast, high-quality manufacturing,” said Evans. “We are thrilled to have these global investors on board, helping us reimagine manufacturing as more efficient and effective for both engineers and manufacturers.”
The new round brings Fictive's total venture funding raised to $25 million. The additional infusion of capital will be used to grow Fictive's global network of manufacturers and to introduce new digital tools geared towards automating and optimizing workflows for hardware teams and manufacturers.
According to Victor, users of the platform will benefit from intelligent algorithms that power automated quoting and manufacturability feedback; a smart matching system to instantly assess capacity and capabilities; a network of over 200 worldwide manufacturers and a centralised online system but most importantly, users will be having a private workspace where hardware teams will be able to collaborate on projects.
The company claims its platform provides a private collaborative workspace.
Fictive
Fictiv’s dual marketplace approach can help manufacturers maximize even small windows of capacity through the platform’s intelligent routing system, unlocking more consistent work.
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