Wikifactory secures $2.5m pre-Series A funding

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An online platform for collaboratively producing physical products has secured $2.5m in pre-series A funding from existing shareholders and new investors including Seier Capital.

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Wikifactory has been created for developers, designers, engineers and start-ups to collaborate, prototype and produce hardware solutions.

The company said it is working to build the Internet of Production, an emerging concept of a distributed, interoperable, open standards-based system that links product definitions, software services, and manufacturing-as-a-service (MaaS) solutions. Headquartered in Copenhagen, the platform is being used by over 130,000 product developers to build robotics, electric vehicles, drones, agri-tech, sustainable energy appliances, lab equipment, 3D printers, and medical devices.

In a statement, Lars Seier Christensen, Seier Capital, said: "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.”

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The latest funding round will be used to grow Wikifactory’s manufacturing marketplace which soft-launched earlier this year and will provide an online solution for anyone to prototype and produce hardware. It offers online quotes, global delivery, and faster production times for CNC machining, sheet metal, 3D printing, and injection moulding with over 150 materials and presets through global and local manufacturers.

Nicolai Peitersen, co-founder and executive chairman of Wikifactory said: 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.”

Wikifactory is establishing partnerships in Europe that promote open innovation, including OPEN!NEXT, a 36-month project enabling SMEs in seven European countries to develop new products based on open-source principles. As part of the partnership, Wikifactory is launching a new phase together with 12 SMEs in the fields of user electronics, built-to-order furniture and eco-friendly mobility, facilitating the hardware development process in one online space.