Phasio raises cash for manufacturing platform development

Manufacturing technology developer Phasio has raised $3.8 million in a seed round, led by AirTree Ventures, to accelerate development of its software platform and interface supporting manufacturing productivity.

Among those contributing to the round include 500 Global, Entrepreneur First, Michael Sorkin’s Gattaca Ventures.

Co-founded by Australian entrepreneur, Harry Lucas and ex-CSIRO researcher, Sudharshan Raman, Phasio aims to digitise how manufacturers quote, design and interact with customers to unlock new ways of working.

Phasio’s manufacturing interface provides an end-to-end workflow between buyers and manufacturers to create instant quotations, collaborate on designs, and manage ordering experiences.

CEO and Co-Founder of Phasio Harry Conor said: “Manufacturing accounts for about a quarter of Australia’s national research and development investment.

“But right now, the industry is stuck with inefficient, siloed processes that are slowing manufacturers’ ability to imagine, design, and create, and with it, our economy.”

Phasio’s platform includes a number of integrations across the manufacturing workflow from Computer Aided Design software (Fusion360, CREO, Solidworks), accounting software (Xero, Quickbooks, Zoho) and shipping providers (Australia Post, UPS, FedEx).

Founded in 2021, Phasio has also developed ManufacturingGPT (mGPT), an AI agent on its interface to instantly answer customer questions about manufacturing processes.

Today, more than 50 manufacturers use Phasio across Australia, South East Asia and Europe.

“Our vision with Phasio is to elevate a new wave of local manufacturers onto the global stage.

“We believe that local manufacturing is the lifeblood of product innovation, and that by empowering local manufacturers to do more, we can in fact grow the manufacturing industry for everyone globally.”

James Cameron, Partner at Airtree Ventures said: “It would be easy to build technology for the manufacturing sector that brings incremental efficiency improvements, but Harry and Raman have been thoughtful about how to go beyond these immediate pain points.”

Picture: L-R: Sudharshan Raman (CPO and Co-Founder), Harry Conor Lucas (CEO and Co-Founder)