5 Best Manufacturing Startups Across The Globe This Year
Despite the huge impact of the prevailing global pandemic on the global supply chain and other important systems of the economy, 2020 still managed to offer major breakthroughs in tech along with thousands of startups. Nearly 3888 manufacturing startups were founded in the past 5 years to identify the top startups in the industry. In this article, we will be looking at 5 evolving top manufacturing startups in India.
Top 5 Manufacturing Startup In India
The 5 most appealing manufacturing startups that have been mentioned below were hand-picked based on the startup scouting approach that is completely data driven considering the factors like founding year, location, and relevancy of technology. Apart from the names mentioned below, there are many manufacturing startups in Europe and also manufacturing startups in Bangalore.
The list below emphasizes on 5 manufacturing startups that were founded in 2020 in the middle of the pandemic, generating solutions that are technology driven for the manufacturing industry.
A Tech Supply – Injection Molding
The process of injection molding is common that avails molten metals, polymers, or glasses. This process often faces errors that lead to defects like flow lines and burn marks. This defect causes huge losses in respect to returned products and wasted working hours. Many manufacturing startups are finding out the solutions that can decrease these defects leading to safer objects that will not lead to these defects.
Danish startup A Tech Supply offers a range of manufacturing elements. The startup offers appropriate injection molding services with a short lead span. It generates quick, micro, soft, and hand tools for both in-built productions and for other injection molding entities. The startup also generates 3D printing, prototypes with injection molding, and computer numerical control (CNC) machining. This is an advanced manufacturing startup.
Squared AI – Rapid Prototyping
Prototypes enable manufacturers to resolve and discover design issues early on. Moreover, it allows them to predict the manufacturing time, costs, and material needs. However, traditional prototyping solutions are pricey and take up a lot of time. The rising access to additive manufacturing provides manufacturers a method for cheap prototyping thereby overcoming these drawbacks. Rapid prototyping solutions require computer-aided design (CAD) and manufacturing (CAM) for quick fabrications of physical parts.
US-based startup Squared AI generates annotation solutions and data labeling. The startup enables manufacturers to decrease material waste and shorten the time of design. It allows rapid prototypes and iterations, along with generative design solutions. The startup also offers manufacturers with environmental impact reports and price forecasts. Squared AI’s solutions find apps in the retail, automotive, FinTech, and healthcare industries.
INDODRIVER – Local Manufacturing
The interruption in supply chains for the coronavirus pandemic has uncovered the over-reliance on outsourcing manufacturing. Accordingly, there is a raised push for local manufacturing in the West and in developing nations. To this end, startups are accepting manufacturing technologies to generate their parts. Further, committed e-commerce and distribution solutions are also important to formulate a strong local manufacturing sector.
Indonesian startup INDORIVER provides a business-to-business (B2B) marketplace for manufacturing entities. The startup’s marketplace offers apparatus and parts for automotive, packaging, cosmetics, paper, and steel manufacturing. It allows small manufacturers to find parts more easily and create faster. Moreover, INDORIVER authority network coordination and data intelligence to encourage the export of locally manufactured equipment. This is classified among the successful manufacturing startups.
Mirai Drone – Industrial Drones
Manufacturing drawbacks put the safety of the worker at risk and follow losses due to downtime. Startups use constant monitoring solutions to examine machinery and areas within a manufacturing section. For instance, industrial drones provide a remotely and scalable operated solution for the purpose of factory floor inspection. The drones avail cameras and other sensors to assess hazards and report to a central system to solve them.
Mirai Drone is an Indian manufacturing startup that specializes in increasing industrial drones. The drone operation management system of this startup, M-DOMS, enables enterprises to efficiently manage their drone fleet. The system offers full visibility into the drone fleet, which includes battery inventory, scheduled maintenance, and fleet log. The solution also allows manufacturers to monitor large and dangerous amenities to detect hazards, like poisonous gases or open fires.
DQLabs – Manufacturing Data
As the process of manufacturing becomes more data-intensive, there is an evolving requirement for data curation solutions. Startups avail artificial intelligence (AI) and analytics to influence manufacturing data for varied applications. Some of these include quality monitoring, predictive maintenance, process improvement, and regulatory compliance.
DQLabs is a startup that is based in the US and that generates an AI-augmented data quality channel. The platform studies all prevailing data assets to offer end-to-end data visibility for compliance and governance. It incorporates data quality tasks, data cataloging, and data curation in one single arena. This is said to be one of the top manufacturing startups in USA. The DQLabs platform provides operational and price analytics for automotive and manufacturing companies.
The Bottom Line
To be updated with technologies it is important to know the companies that will help technology to grow in 2021 and in the future. In this respect we have discussed the top 5 manufacturing startups that have broken all barriers and are set to grow in the future. They are here with emerging solutions to all the technological hazards.