AXA backs Geomiq
London-based digital manufacturing marketplace Geomiq has raised $8.5 million in a Series A funding round led by AXA Venture Partners (AVP) alongside TechNexus Venture Collaborative and existing investors Samaipata and Fuel Ventures.
Founded in 2016, Geomiq (a team of ~41) is an intelligent platform that provides instant quotes and instant ordering of custom manufactured parts. “Geomiq’s digital offer is a game changer, as they gather all key players in the value chain under one roof, from quote to delivery. Their approach on Manufacturing as a Service (MaaS) plays a critical role in the industry’s future.” – François Robinet, Managing Partner at AXA Venture Partners.
“Over the last few years the Geomiq team have supported leading companies including Brompton Bicycles and many more. We are particularly proud to be supporting the UK’s aerospace, automotive, robotic and medical sectors, all of which are at an exciting inflection point. To send parts into space was a particularly exciting moment and we are looking forward to hitting new heights in the years to come. As you can imagine we have big plans for product, reducing lead times by launching international quality hubs, Machine Learning based matching and pricing algorithms, more transparency that ever, BOM handling, Automating DFM and improving the ability to re-order from inventories.”