Factorem
AI-powered on-demand manufacturing for custom parts.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor | €0.0 | round |
| N/A | €0.0 | round | |
| investor | €0.0 | round | |
* | N/A | Seed | |
| Total Funding | 000k | ||
Factorem provides an AI-driven cloud platform for on-demand custom parts manufacturing, connecting businesses with a vetted network of factories primarily in Southeast Asia. The company was co-founded in September 2020 by CEO Alexandra Zhang and CPO Hardik Dobariya. Both founders had previous experience in manufacturing and engineering-related roles, where they identified significant inefficiencies in the traditional procurement process for custom parts, which was often slow and cumbersome. The COVID-19 pandemic highlighted these issues, prompting them to create a technology-based solution.
The platform serves clients across various sectors, including industrial automation, robotics, biotechnology, telecommunications, and aerospace, by offering a range of manufacturing technologies such as CNC Machining, 3D Printing, and Sheet Metal Fabrication. A key feature is the ability to handle low-volume production with no minimum order quantity (MOQ), which reduces inventory costs and accelerates product development cycles from months to days. Factorem's business model involves taking a 20% to 30% transaction fee from both the buyer and the supplier. The company uses AI and machine learning algorithms to provide instant quotes, manufacturability feedback, and to intelligently route orders to the best-suited manufacturer within its network of over 150 partners.
Factorem has secured funding from investors including SEEDS Capital (the investment arm of Enterprise Singapore), Blue InCube Ventures, Iterative, and Pia Ventures. The company reported revenues of $400,000 in 2023, with projections to reach between $800,000 and $1 million in 2024. To support its growth and expand its U.S. operations, CEO Alexandra Zhang relocated to Colorado in late 2023. The company prioritizes intellectual property protection through trade secrets and rigorous non-disclosure agreements with its partners rather than patents.
Keywords: on-demand manufacturing, custom parts, AI manufacturing, CNC machining, 3D printing, sheet metal fabrication, supply chain tech, digital manufacturing, Southeast Asia manufacturing, low-volume production, rapid prototyping, hardware development, Industry 4.0, advanced manufacturing, smart factory, procurement platform, robotics components, industrial automation, vetted supplier network, no MOQ