Partsimony Helps Hardware Companies Find the Perfect Manufacturer Through Machine Learning
By working with more than 100 hardware startups, entrepreneurs and spaces through Futureworks Incubator, Futureworks Shops and NYSERDA’s M-Corps, we’re able to get a sense of very-frequent conversations happening across NYC. Two of the most common right now? Founders want to bring their supply chain closer to home or build a supply chain for the first time. New Lab-based Partsimony can help with both.
Founded by twin brothers Rich and Roland Mokuolu, Partsimony (formerly called Inventaprint) helps growing hardware companies discover vetted manufacturers, better collaborate with their existing network, build long-term manufacturer relationships, and bring down costs. For companies looking to shift production outside of China in light of President Trump’s tariffs, Partsimony provides insight into other options. For companies seeking to build a supply chain for the first time, the Mokuolus are able to chat through budgets and needs and whether, say, you really need that part in metal – or whether a cheaper 3D print will do.
Recently, for instance, Partsimony helped a client bring down the manufactured cost-per-unit from $25 to $2 for a few thousand units. They also drove 88% in cost savings and 67% lead time reduction for Neurosity, a wearables startup.
At the core of Partsimony’s value proposition is a large network of manufacturers combined with proprietary machine learning software that matches companies needs with manufacturers’ expertise. For instance, if you’re trying to CNC components for a medical device, Partsimony will source only suppliers who are FDA-approved. “It’s not just: ‘Here are a bunch of suppliers’,” Rich says. Finding the right supplier fit means startups quickly get the attention of manufacturers, are able to start a relationship, and have easier conversations and better negotiations. For manufacturers, Partsimony helps drive serious requests rather than a smattering of cold-emails based on quick Google searches.
Partsimony takes a small commission off each transaction and charges a monthly fee for clients. If you’re part of Futureworks, M-Corps and another Partsimony partner, you get 33% off the monthly fee.
– Greg Spielberg