By
DE Editors
March 11, 2019
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Fictiv has closed a $33 million Series C funding round to accelerate its transformation of contract manufacturing into a global digital ecosystem that enables fast, flexible hardware product development and production. Led by G2VP, with new investor Mitsui & Co. joining return partners Accel, Bill Gates, Intel Capital, Sinovation and Tandon Group, the round brings Fictiv’s total investment to $58 million.
Fictiv will use the funds to accelerate its work to digitize and automate the manufacturing workflow. Core initiatives for the company include: investment in its cloud infrastructure and software tools to streamline workflow, expansion of its global manufacturing network to increase access to manufacturing capabilities, materials, and capacity, and hiring top talent to scale its service experience, the company notes.
“Fictiv is developing the software infrastructure required to connect the manufacturing workforce and trillions of dollars of capital equipment,” says CEO and co-founder Dave Evans. “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.”
“With Fictiv, companies are no longer required to invest in large supply chain teams to bring a product to market,” explains Fictiv CXO and co-founder Nate Evans. “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.”
Fictiv has targeted the automotive, medical, robotics, aerospace and consumer electronics industries. Key features and benefits of the Fictiv platform include:
Sources: Press materials received from the company and additional information gleaned from the company’s website.
DE's editors contribute news and new product announcements to Digital Engineering 24/7 and the Robotics 24/7 sites. Press releases may be sent to them via [email protected].
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