Total amount raised
$65.6 Millions
Latest funding date
12/01/2024
Location
First Resonance has successfully raised $32 million over multiple funding rounds, with the latest being a Series A. The funding round was led by Third Prime, with participation from Craft Ventures, Blue Bear Capital, and E12.
The ION Factory OS platform, developed by First Resonance, aims to revolutionize manufacturing processes with its advanced features and compliance capabilities. Keep reading to explore the intricacies of First Resonance's fundraising journey and the investors backing this innovative platform.
What Is First Resonance?
First Resonance, founded in July 2018 by Karan Talati and Neal Sarraf, is based in Los Angeles, California. The company specializes in developing ION Factory OS, a manufacturing software platform designed to accelerate production and provide comprehensive data insights.
With a team of 11-50 employees, First Resonance focuses on modernizing manufacturing processes, ensuring compliance, and enhancing traceability. Their software solutions cater to various industries, including aerospace, medical devices, and robotics.
First Resonance's ION Factory OS supports factory operations from prototype to full-scale production, offering tools like ION Autoplan for production scheduling and ION Analytics for optimizing factory operations.
How Much Funding Has First Resonance Raised?
- Funding Round: Seed Round
- Amount Raised: $1.8M
- Date: May 2019
- Lead Investors: Wavemaker Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of the ION Factory OS platform and establish initial market presence.
- Funding Round: Seed Round
- Amount Raised: $3.5M
- Date: Dec 2020
- Lead Investors: Blue Bear Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the development team and accelerate the deployment of the ION Factory OS platform.
- Funding Round: Venture Round
- Amount Raised: $3.5M
- Date: Mar 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product features and support early customer implementations.
- Funding Round: Series A
- Amount Raised: $14M
- Date: Dec 2021
- Lead Investors: Craft Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and expand market reach.
- Funding Round: Venture Round
- Amount Raised: Not publicly disclosed
- Date: Sep 2023
- Lead Investors: Emerson Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the ION Factory OS platform and integrate advanced features.
- Funding Round: Funding Round
- Amount Raised: $10.8M
- Date: Nov 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the launch of the ION Marketplace and expand customer support.
- Funding Round: Series A
- Amount Raised: $32M
- Date: Dec 2024
- Lead Investors: Third Prime
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To advance the ION Factory OS platform, enhance product development, and launch the ION Marketplace.
Total Amount Raised: $65.6M. Current Valuation: Not publicly disclosed.
Key Investors
- Third Prime
- Details: Third Prime is a venture capital firm that led the latest funding round for First Resonance. They focus on investing in innovative manufacturing technology and digital transformation.
- Investment Focus Areas: Manufacturing technology, digital transformation, technology-driven companies.
- Notable Investments: First Resonance.
- Craft Ventures
- Details: Craft Ventures is a venture capital firm that participated in multiple funding rounds for First Resonance. They invest in technology-driven companies and have a strong focus on supporting startups.
- Investment Focus Areas: Technology, startups, digital transformation.
- Notable Investments: Not specifically mentioned.
- Blue Bear Capital
- Details: Blue Bear Capital is a venture capital firm specializing in energy and industrial technology investments. They have been an existing investor in First Resonance, participating in several funding rounds.
- Investment Focus Areas: Energy, industrial technology, manufacturing technology.
- Notable Investments: Not specifically mentioned.
- Emerson Ventures
- Details: Emerson Ventures is a venture capital firm that focuses on industrial and manufacturing technology. They participated in a recent funding round for First Resonance.
- Investment Focus Areas: Industrial technology, manufacturing technology, early-stage technology investments.
- Notable Investments: Not specifically mentioned.
- Wavemaker Partners
- Details: Wavemaker Partners is a venture capital firm that led the initial seed round for First Resonance. They focus on early-stage investments in technology and innovation.
- Investment Focus Areas: Early-stage technology, innovation, startups.
- Notable Investments: Not specifically mentioned.
What's Next for First Resonance?
First Resonance is poised to capitalize on the growing demand for digital manufacturing solutions. With the launch of the ION Marketplace, they aim to create a dynamic ecosystem for developers and integration partners, enhancing the ION Factory OS platform. This initiative, coupled with AI-driven manufacturing workflows, positions them to address industry trends like rising labor costs and global competition.
Future fundraising opportunities seem promising, given the recent $32 million investment led by Third Prime. This financial backing not only fuels product development but also signals investor confidence, paving the way for potential future rounds. However, challenges such as rapid technological advancements and ensuring platform reliability remain critical hurdles.
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