Manufacturing is getting a high-tech upgrade—and these 20 startups are leading the charge. With $10M–$50M in funding, they’re building intelligent systems that enhance automation, improve efficiency, and reduce waste. From AI-powered production lines to IoT-driven operations, they’re driving the shift toward smart manufacturing.
The Next Industrial Revolution | 20 Startups Pioneering Smart Manufacturing
Backed by significant investment, these startups are modernizing factories, transforming supply chains, and setting new benchmarks for industrial innovation.
Let’s dive into the companies powering the future of manufacturing.
| Company Name | Founded | Location | Employees | Last Funding Amount | Last Funding Date | Total Funding |
|---|---|---|---|---|---|---|
| Thrombolex | 2016 | New Britain, Connecticut, USA | 11–50 | $4.84M | May 28, 2024 | $21.68M |
| Bluejay Diagnostics | 2015 | Acton, Massachusetts, USA | 1–10 | $8.75M | Jun 27, 2024 | $16.70M |
| Materic | 2018 | Baltimore, Maryland, USA | 11–50 | $10M | Mar 13, 2024 | $10M |
| Trident IoT | 2023 | Carlsbad, California, USA | 11–50 | $10M | Apr 11, 2024 | $10M |
| enSights | 2021 | Centralia, Illinois, USA | 1–10 | $10M | Dec 4, 2024 | $12M |
| Avenacy | 2023 | Schaumburg, Illinois, USA | 11–50 | $26.03M | Nov 26, 2024 | $26.03M |
| CX2 | 2024 | El Segundo, California, USA | 11–50 | $15M | Dec 11, 2024 | $15M |
| Active Surfaces | 2022 | Salem, Massachusetts, USA | 1–10 | $5.6M | May 13, 2024 | $13.25M |
| Jupiter Endovascular | 2024 | Menlo Park, California, USA | 11–50 | $21M | Aug 15, 2024 | $21M |
| SUN METALON | 2021 | Wood Dale, Illinois, USA | 11–50 | $17.6M | Oct 3, 2024 | $30.61M |
| Novocuff | 2021 | Mountain View, California, USA | 1–10 | $26M | Jul 17, 2024 | $28M |
| Green Corridors | 2020 | Austin, Texas, USA | 1–10 | $4.31M | Mar 1, 2024 | $11.91M |
| Avextra | 2018 | Bensheim, Hessen, Germany | 51–100 | €6.5M | Dec 12, 2024 | €43.5M |
| Meridian Innovation | 2016 | Singapore, Central Region | 11–50 | $12.5M | Oct 8, 2024 | $28.5M |
| iGii | 2016 | Stirling, Scotland, United Kingdom | 1–10 | £8.8M | Jun 18, 2024 | £11.9M |
| OSS Ventures | 2018 | Paris, Île-de-France, France | 11–50 | €8.5M | Jun 20, 2024 | $15.66M |
| Ethereal Machines | 2016 | Bangalore, Karnataka, India | 11–50 | ₹1.09B | Jun 13, 2024 | $23.5M |
| Conflux Technology | 2015 | Waurn Ponds, Victoria, Australia | 11–50 | $11M | Oct 21, 2024 | $17.39M |
| Dive | 2018 | Berlin, Germany | 11–50 | $10M | Jun 5, 2024 | $10M |
| Simera Sense | 2018 | Leuven, Vlaams-Brabant, Belgium | 11–50 | €13.5M | Mar 12, 2024 | €13.5M |
1. Thrombolex
- Founded: 2016
- Location: New Britain, Connecticut
- Industry: Manufacturing
- Number of Employees: 11-50
- Last Funding Amount: $4.84M (Latest Round: May 28, 2024)
- Total Funding Amount: $21.68M
Thrombolex is a medical device manufacturing company specializing in the development of innovative catheter-based technologies for the treatment of thromboembolic disorders. Their advanced systems are designed to dissolve blood clots efficiently and safely, offering minimally invasive solutions for patients with deep vein thrombosis, pulmonary embolism, and other vascular conditions. With over $21 million in total funding, Thrombolex is focused on expanding clinical adoption, advancing its product pipeline, and improving outcomes in interventional vascular therapy.
2. Bluejay Diagnostics
- Founded: 2015
- Location: Acton, Massachusetts
- Industry: Manufacturing
- Number of Employees: 1-10
- Last Funding Amount: $8.75M (Latest Round: June 27, 2024)
- Total Funding Amount: $16.70M
Bluejay Diagnostics is a medical diagnostics company focused on developing rapid, point-of-care testing solutions for infectious diseases and other critical health conditions. Their innovative platform aims to deliver fast, reliable, and cost-effective diagnostic results, helping healthcare providers make timely treatment decisions. With over $16 million raised, Bluejay is working to transform clinical diagnostics through cutting-edge biosensor technology.
3. Materic
- Founded: 2018
- Location: Baltimore, Maryland
- Industry: Manufacturing
- Number of Employees: 11–50
- Last Funding Amount: $10M (Latest Round: March 13, 2024)
- Total Funding Amount: $10M
Materic is a cutting-edge materials science company specializing in the design and manufacture of advanced nanomaterials and custom materials for high-performance applications. Serving sectors like aerospace, biotech, and energy, Materic accelerates innovation by offering tailor-made solutions that push the boundaries of material capabilities. With $10 million in funding, the company is scaling up its production and expanding the frontier of material science innovation.
4. Trident IoT
- Founded: 2023
- Location: Carlsbad, California
- Industry: Manufacturing
- Number of Employees: 11–50
- Last Funding Amount: $10M (Latest Round: April 11, 2024)
- Total Funding Amount: $10M
Trident IoT is an emerging leader in wireless connectivity solutions, delivering integrated silicon and software platforms for smart home and industrial IoT applications. With its recent $10 million funding round, Trident IoT is accelerating the development of secure, scalable communication technologies aimed at improving device interoperability and automation across connected environments.
5. enSights
- Founded: 2021
- Location: Centralia, Illinois
- Industry: Manufacturing
- Number of Employees: 1–10
- Last Funding Amount: $10M (Latest Round: December 4, 2024)
- Total Funding Amount: $12M
enSights is revolutionizing energy and industrial monitoring through cutting-edge sensor technology and real-time data analytics. With a recent $10 million investment, the company is expanding its footprint in smart manufacturing by providing actionable insights that drive efficiency, reduce downtime, and promote sustainable operations across industrial sectors.
6. Avenacy
- Founded: July 2023
- Location: Schaumburg, Illinois
- Industry: Manufacturing
- Number of Employees: 11–50
- Last Funding Amount: $26.03M (Latest Round: November 26, 2024)
- Total Funding Amount: $26.03M
Avenacy is a leading innovator in the manufacturing sector, focusing on advanced technologies to optimize production processes and create smarter, more sustainable industrial solutions. With its latest funding round of $26 million, the company aims to scale its operations and drive the next wave of automation and efficiency in manufacturing industries.
7. CX2
- Founded: 2024
- Location: El Segundo, California
- Industry: Manufacturing
- Number of Employees: 11–50
- Last Funding Amount: $15M (Latest Round: December 11, 2024)
- Total Funding Amount: $15M
CX2 is an emerging player in the manufacturing industry, committed to revolutionizing production processes with cutting-edge technology. The company’s recent $15 million funding will accelerate its growth and enhance its capabilities in automation and advanced manufacturing solutions, aiming to set new standards in industrial efficiency.
8. Active Surfaces
- Founded: 2022
- Location: Salem, Massachusetts
- Industry: Manufacturing
- Number of Employees: 1–10
- Last Funding Amount: $5.6M (Latest Round: May 13, 2024)
- Total Funding Amount: $13.25M
Active Surfaces is focused on transforming the manufacturing landscape by developing innovative materials and smart surfaces. With its latest round of funding, the company plans to enhance its research and development efforts, aiming to create more sustainable and high-performance products in the industry.
9. Jupiter Endovascular
- Founded: 2024
- Location: Menlo Park, California
- Industry: Manufacturing
- Number of Employees: 11–50
- Last Funding Amount: $21M (Latest Round: August 15, 2024)
- Total Funding Amount: $21M
Jupiter Endovascular specializes in advanced medical devices for endovascular procedures, focusing on innovative solutions for vascular and cardiovascular health. With their latest funding, they aim to expand their product offerings and enhance the capabilities of their cutting-edge medical technology.
10. SUN METALON
- Founded: 2021
- Location: Wood Dale, Illinois
- Industry: Manufacturing
- Number of Employees: 11–50
- Last Funding Amount: $17.6M (Latest Round: October 3, 2024)
- Total Funding Amount: $30.61M
SUN METALON focuses on providing high-performance metal products and solutions for a variety of industries. With their latest funding round, they aim to further enhance production capabilities and expand their reach in the global manufacturing sector.
11. Novocuff
- Founded: 2021
- Location: Mountain View, California
- Industry: Manufacturing
- Number of Employees: 1–10
- Last Funding Amount: $26M (Latest Round: July 17, 2024)
- Total Funding Amount: $28M
Novocuff is a medical device company specializing in the development of advanced cuff-based solutions. Their latest funding round supports the development of their innovative technologies to improve patient outcomes and expand their presence in the healthcare industry.
12. Green Corridors
- Founded: 2020
- Location: Austin, Texas
- Industry: Manufacturing
- Number of Employees: 1-10
- Last Funding Amount: $4.31M (Latest Round: March 1, 2024)
- Total Funding Amount: $11.91M
Green Corridors is focused on creating sustainable manufacturing solutions that reduce environmental impact. Their funding aims to expand their operations and enhance their eco-friendly technologies.
13. Avextra
- Founded: October 2018
- Location: Bensheim, Hessen, Germany
- Industry: Manufacturing
- Number of Employees: 51–100
- Last Funding Amount: €6.5M (Latest Round: December 12, 2024)
- Total Funding Amount: €43.5M
Avextra is a leading European vertically integrated manufacturer and developer of pharmaceutical cannabis-based medicines (CBMs). The company controls the entire value chain—from cultivation in Portugal to EU-GMP-certified extraction and manufacturing in Germany. Avextra operates across continental Europe through an expansive distribution network of multiple channels and strategically developed assets for key markets.
14. Meridian Innovation
- Founded: November 2016
- Location: Singapore, Central Region
- Industry: Manufacturing
- Number of Employees: 11–50
- Last Funding Amount: $12.5M (Latest Round: October 8, 2024)
- Total Funding Amount: $28.5M
Meridian Innovation specializes in developing advanced Complementary Metal-Oxide-Semiconductor (CMOS) thermal imaging solutions. Their patented SenXor™ technology enables the mass production of low-cost, high-performance thermal sensors suitable for various consumer and commercial applications. The recent funding aims to scale operations, accelerate product development, and expand market reach.
15. iGii
- Founded: 2016
- Location: Stirling, Scotland, United Kingdom
- Industry: Manufacturing
- Number of Employees: 1–10
- Last Funding Amount: £8.8M (Latest Round: June 18, 2024)
- Total Funding Amount: £11.9M
iGii, formerly known as Integrated Graphene, is a Stirling-based nanomaterial producer specializing in Gii™, a patented 3D carbon foam that combines the desirable properties of graphene, such as sensitivity, flexibility, and conductivity, without the challenges associated with its scale-up and mass application.
16. OSS Ventures
- Founded: September 24, 2018
- Location: Paris, Île-de-France, France
- Industry: Manufacturing
- Number of Employees: 11–50
- Last Funding Amount: €8.5M (Latest Round: June 20, 2024)
- Total Funding Amount: $15.66M
OSS Ventures is a Paris-based industrial start-up studio focused on driving innovation in manufacturing operations. Since its inception in late 2019, it has launched 15 start-ups and invested in four projects, collectively generating €25 million in annual recurring revenue. The recent €8.5 million funding round, led by Tikehau Capital, France 2030’s French Tech Accélération 2 fund (Bpifrance), Etablissements Peugeot Frères, and business angels like Max Pog, brings OSS Ventures’ total capital to €11 million. This investment aims to support the creation of five new start-ups annually, focusing on expanding their reach in Europe and the U.S., with the goal of attracting a substantial international clientele by 2027.
17. Ethereal Machines
- Founded: November 11, 2016
- Location: Bangalore, Karnataka, India
- Industry: Manufacturing
- Number of Employees: 11–50
- Last Funding Amount: ₹1.09B (Latest Round: June 13, 2024)
- Total Funding Amount: $23.5M
Ethereal Machines, established in 2014 by Kaushik Mudda and Navin Jain, specializes in manufacturing multi-axis computer numerical control (CNC) machines for precision engineering applications. The company serves sectors including aerospace, healthcare, and consumer electronics.
18. Conflux Technology
- Founded: 2015
- Location: Waurn Ponds, Victoria, Australia
- Industry: Manufacturing
- Number of Employees: 11-50
- Last Funding Amount: $11M (Latest Round: October 21, 2024)
- Total Funding Amount: $17.39M
Conflux Technology specializes in advanced 3D printing technology for metal parts. The company is focused on applying its innovative approach to optimize heat exchangers and thermal management solutions, particularly for industries like aerospace, defense, and industrial engineering.
19. Dive
- Founded: June 2018
- Location: Berlin, Germany
- Industry: Manufacturing
- Number of Employees: 11–50
- Last Funding Amount: $10M (Latest Round: June 5, 2024)
- Total Funding Amount: $10M
Dive is a Berlin-based deep-tech startup specializing in cloud-native engineering solutions. Established in 2018, the company focuses on enhancing product development processes by integrating advanced simulation technologies with scalable cloud-based high-performance computing (HPC). Their browser-based software enables engineers worldwide to access data and tools without the need for complex installations or maintenance.
20. Simera Sense
- Founded: 2018
- Location: Leuven, Vlaams-Brabant, Belgium
- Industry: Manufacturing
- Number of Employees: 11–50
- Last Funding Amount: €13.5M (Latest Round: March 12, 2024)
- Total Funding Amount: €13.5M
Simera Sense is a leading provider of end-to-end optical solutions for the small satellite Earth observation industry. Founded in 2018 and headquartered in Leuven, Belgium, the company specializes in high-resolution, off-the-shelf camera systems designed for diverse missions. Their products are utilized globally across various industries, enabling efficient and effective Earth observation capabilities.
Conclusion
With $10M to $50M in fresh capital, these 20 manufacturing startups are fast-tracking the evolution of smart manufacturing. From AI-powered automation and predictive maintenance to robotics and sustainable production solutions, they’re revolutionizing how goods are made. Their innovations promise faster, more efficient, and environmentally conscious manufacturing across industries and geographies.
FAQs
Q. Why are manufacturing startups attracting large investments?
A. Investors are drawn to the potential for these startups to revolutionize production processes through smart technology, leading to increased efficiency, sustainability, and profitability.
Q. What technologies are these startups using to drive smart manufacturing?
A. These startups leverage AI, IoT, robotics, advanced automation, machine learning, and digital twins to optimize production, improve product quality, and reduce operational costs.
Q. How does smart manufacturing improve efficiency?
A. Smart manufacturing utilizes data-driven insights, predictive analytics, and automation to streamline production processes, minimize downtime, and maximize output.