Manufacturing startups are thriving with 4.1k+ startups offering their services.
These companies provide software solutions to support manufacturing.
Manufacturing startups are the most attractive investment areas for investors.
According to a survey, manufacturing startups have received a total of €21.9 billion in funding, making them the most popular sector for investment.
Who are the top investors in the manufacturing industry?
Big companies like BDC and Startup Autobahn, Y Combinator and Techstars are the top investors in this industry.
The outbreak of the pandemic COVID -19 has greatly affected the business world. However, thousands of startups have been created and most of them are doing well.
In the last five years, numerous manufacturing startups have flourished in the industry. To read more, click here.
What is a Manufacturing startup?
A manufacturing startup is just like a company that works for delivering quality and reliable solutions for minimizing the defects and cost in the production.
Following is the list of the best six manufacturing startups:
DQLabs- Manufacturing Data
DQLabs is a data manufacturing startup based in the US.
To secure data assets, the company offers an AI-powered data quality platform that ensures end-to-end data transparency for effective governance and management.
It also provides data cataloging, data quality tasks, and data curation in a single platform.
With more credibility in service and compliance, DQLabs has established itself as one of the best startups in the industry.
Pricing and operational analytics are also offered by DQLabs as an integrated support for manufacturing and automotive companies.
DQLabs offers its manufacturing data services that include quality monitoring, process improvement, and regulatory compliance.
INDODRIVER- Local Manufacturing
The Covid outbreak disrupted the entire economy and the functioning of businesses around the world. Supply chains were weakened and dependence on external sources increased.
Therefore, the existence of strong startups in manufacturing is a mandatory requirement.
To counter this problem, many startups were founded in the West and other countries, recognizing the need for local manufacturing.
New advanced technologies are used by the startups to bring an effective quality in their product. This is done to make them widely acceptable by the customers.
INDODRIVER offers a B2B marketplace for manufacturing startups to connect for business purposes.
It’s like a digital platform where manufacturing startups and professional experts can communicate their business in bulk.
This helps small manufacturers find the parts they need easily and accurately.
INDODRIVER provides benefits such as network coordination and data intelligence to promote locally developed products.
Bright Machines- automation solutions
Bright Machines was founded in 2018 by experienced professionals to deliver effective automation solutions to the manufacturing sector.
With years of knowledge and expertise, Bright Machine is able to provide high quality and helpful solutions for industrial automation and development.
The requirements of a strong manufacturing startup are met by Bright Machines thanks to its professional and expert support.
The company is also named as one of the best manufacturing startups in 2021. So, if you focus on the quality of your products, you will benefit the most.
Bright Machines delivers scalable and flexible advanced manufacturing solutions for increased quality and visibility in production.
Mirai Drone- Industrial Drones
Mirai Drone is an Indian manufacturing startup that develops industrial drones through the best and effective UAS technologies.
It offers its customers a reliable and customer-oriented service.
Mirai Drone’s vision is to become the leading supplier and producer of firefighting and industrial drone systems.
The professionals at MIRAI-DRONE have over 30 years of industry experience in aerospace, embedded systems and software development.
It develops aerial intelligence strategies for companies to rapidly implement UAS solutions.
This helps in making business relevant decisions at lower cost, lower risk and high security.
So, we can say that Mirai Drone is one of the best producing startups in the industry.
The solution offered by Mirai Drone helps manufacturers to monitor their production and detect faults easily.
Squared AI- Rapid Prototyping
It is a US-based manufacturing startup that develops data labeling and annotation solutions for enterprises.
The services delivered by Squared AI delivers include reducing material waste for decreasing the time for design preparations.
Along with rapid prototyping, it also offers environmental reports and price forecasts to the manufacturers.
It offers quality service because of fast prototyping solutions which include CAD(Computer-aided design) and manufacturing (CAM).
COGNITE- Industrial DataOps Provider
Cognite was founded in the year 2016 and its headquarters are situated in Lysaker, Norway.
Within a short period of time, the company has established itself as a group of digital disruptors helping industries transform.
It offers everyone full access to industrial data to create value from data and transform industries. This is an opportunity for individuals to learn the value of data.
Cognite provides businesses with insightful access to contextualized data. Startups need to keep up with technological advancements.
But to keep up with the trend, it is important to stay updated to deliver effective innovation intelligence and solutions.
How to set up a manufacturing startup?
Starting a business requires proper strategy, experience, and funding.
If you have these three things, you should begin your journey without further delay.
A good market research will give you enough information about the basic functioning and competitors in the market.
It is a mandatory task for you to analyze the level of competition in the market. This will help you formulate an effective strategy that fits your vision.
Below are some ways you can start a manufacturing business:
A mutual business deal or partnership
If you want to start a manufacturing business, the first requirement is a partnership, financing or investment.
It is important to make a deal for financing, but sometimes experience beats technology.
To gain experience in the market, you need to work with people who have been in business for years.
But do not be fooled and try to find the real professionals who have real experience.
A well research
There is no point in starting a business without doing thorough research, but that should come first.
It is beneficial to do productive research that can give you a real picture of the market.
A good research will provide you with several options to work with or work for.
So, well-researched research is an extremely important requirement if you want to start a manufacturing business.
Having patience is a smart thing because most people lack it.
Things like a business require some patience because it takes time to have a proper perspective for growth and development.
Relying on unremarkable comforts will not devalue your business building, but will secure your investment for the future. To read more, click here.