Wikifactory raises £2.3m in seed follow-on funding to build out its manufacturing marketplace.
The social platform for physical product development secured the investment from impact investors across Europe and the US.
Wikifactory operates a social platform and online collaboration system enabling remote teams to design, prototype and produce physical products. The company provides web-based computer-aided design tools and project management infrastructure to simplify hardware development.
Wikifactory has secured £2.3m in a seed follow-on round from impact investors across Europe and the US. The capital brings the total raised by the platform to more than $4.5m since its beta launch in May 2019.
The fresh funding will be directed towards building a quality-assured manufacturing marketplace designed to connect industrial networks into a single market network. Wikifactory also plans to deploy mirrored servers in China to expand access to hardware production in Shenzhen.
The raise follows the rollout of a collaborative computer-aided design tool equipped with in-built chat and annotation systems. The platform currently serves more than 70,000 product developers across 190 countries.
From the founder
"Wide-scale global collaboration to make physical things is happening both for open-source and for proprietary product development,"
Nicolai Peitersen
Co-founder and Executive Chairman at Wikifactory
Use of funds
- 01Continue product development
- 02Build out infrastructure
Categories
About the company
Wikifactory
Wikifactory provides an online collaboration platform for physical product development.