Factorem secures seed funding round with backing from SEEDS Capital and Blue InCube Ventures.
Updated: 2 days ago
Singapore’s Factorem, a manufacturing tech-startup founded in 2020, recently concluded its undisclosed seed funding round led by Enterprise Singapore’s SEEDS Capital and Blue InCube Ventures. The capital infusion will help to accelerate the development of Factorem’s cloud platform, aiming for quicker lead times, precise quoting, and a broader global reach. The funds will also enhance the startup’s supply chain capacity and capabilities in key Southeast Asian (SEA) markets, including Malaysia and Vietnam.
*Photo from a Factorem event
“The funding will enable us to continue transforming the world of custom manufacturing in Southeast Asia and beyond,” said Factorem Co-Founder and CEO Alexandra Zhang.
Since its establishment, Factorem has achieved a 300% year-over-year revenue growth, serving a diverse clientele across local and international markets. The company’s manufacturing network has expanded 10x, now encompassing 100 carefully vetted factories in Singapore, Malaysia, Vietnam, and South Korea.
“We are making ordering bespoke parts as easy as ordering an item from an e-commerce store. At the same time, we are continuously building value-added services for our manufacturing partners and automating workflows,” added Co-Founder and Chief Product Officer Hardik Dobariya.
Factorem, known for its end-to-end fulfilment services catering for on-demand, low volume, and no minimum order parts seeks to simplify custom manufacturing across industries like industrial automation, robotics, biotechnology, and telecommunications.
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