Fictiv, a US-based virtual manufacturing platform, has raised $35m in its series D round from 40 North Ventures, a related investment business of Standard Industries, a privately-held industrial company.
Other investors included Honeywell is a US-listed conglomerate in aerospace, building technologies, performance materials and technologies, and safety and productivity solutions, Japan-based Sumitomo Mitsui Banking Corporation, venture capital firms Adit Ventures, M20 Accel and G2VP, and Microsoft co-founder Bill Gates.
Marianne Wu, managing director at 40 North Ventures and former president at GE Ventures, the corporate venturing unit of General Electric, said: “Fictiv has rapidly established itself as the gold standard for digital transformation in the manufacturing and supply chain sectors, helping companies of all sizes and industries modernise their efforts to realise superior speed, quality, and efficiency.”
Kamal Vasagiri, director of venture capital investments at Honeywell, added: “Fictiv’s traction with enterprise companies like Honeywell, combined with the potential for scale inherent in their digital ecosystem model, gives us confidence that Fictiv is truly building the future of manufacturing.”
Founded in 2013, Fictiv has in total raised $92m to develop a cloud-based software platform that aids in manufacturing by allowing customers to design and order parts which are then made by one of Fictiv’s vetted manufacturers.
In March 2019, Fictiv completed a $33m series C round backed by diversified conglomerate Mitsui and Intel Capital, the corporate venture capital arm of semiconductor and data technology provider Intel.
