Forgepoint raises $9.8M to automate custom price quotes for manufacturers

Forgepoint Inc. has raised $9.8 million in seed funding to target custom price quotes for small and mid-sized U.S. manufacturing firms. The round was co-led by Primary Venture Partners and a16z Speedrun, according to SiliconANGLE.

The startup’s software appears designed to streamline a process that has historically relied on manual spreadsheets or sales-engineering loops—a bottleneck that can slow down job shops bidding on custom parts. If successful, such tools could significantly reduce quote turnaround times.

The funding aligns with a broader trend in industrial automation. A Tokyo-based analysis of 30 overseas manufacturing startups, covered in our 25 September report, noted investor interest shifting toward tools addressing production bottlenecks. Forgepoint’s approach contrasts with hardware-focused startups like Multiply Labs or ThinkMetal, instead focusing on the digital layer.

However, the seed round is notably smaller than the $75 million raised by drug-manufacturing automation startups last month. This disparity may reflect investor caution about scaling vertical SaaS in traditional manufacturing, where sales cycles and customer adoption can be challenging. The company’s next steps will likely involve proving its model with early customers before the seed capital is exhausted.

Sources: siliconangle.com