Manufacturing process management platform Factory has raised $4.69 million in a Series A funding round to support its expansion in the United States. The round was led by Shearwater Capital, with support from U.S. investor Martin Tobias and existing investors Investible, Adrian DiMarco, and Beachhead Capital.
The Sydney-based startup had earlier raised $1.05 million in a Seed round in 2023, which was also led by Investible.
Factory provides software tools for fabrication and manufacturing businesses to manage their operations from quotation to delivery and procurement, all in one platform.
The new funding will be used to improve product development and engineering, grow the sales and go-to-market team, and launch U.S. operations starting in Texas.
Factory was founded in 2021 by brothers Paul and Michael Lutkajtis, inspired by their family’s fabrication business.
“This sector has largely been overlooked by the technology industry, primarily due to numerous misconceptions,” stated Paul, the CEO. We discovered that approximately 93% of firms in manufacturing employ fewer than 20 individuals.
The Factory platform is built for small and medium-sized sheet metal fabrication businesses and can be customized to match each company’s specific needs. The CEO highlighted this flexibility and said he plans to move to Texas to support the U.S. expansion.
The five-year-old Sydney startup now serves more than 200 customers in Australia and is also seeing growing adoption in North America and the United Kingdom.
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