On Supply Chain Tech: Why TechNexus Invested in Geomiq and Partium

TechNexus invested in Geomiq and Partium — two very different approaches to the global supply chain crisis. Geomiq connects manufacturers with excess capacity to companies needing parts, while Partium uses AI to help technicians find the right components instantly.

Introducing Geomiq and Partium , the latest additions to our investment portfolio . Geomiq and Partium are tackling the global supply chain crisis, with 2 very different technologies . Geomiq HQ: London, England Founders: Sam Al-Mukhtar and William Hoyer-Millar The problem: Supply chain challenges and fluctuating demand create a perfect storm, which can generate a sourcing backlog for manufactured parts. This year, the International Monetary fund said that due to supply chain issues, the forecast for global economic growth decreased from 4.9 percent to 4.4 percent . Traditional methods to resolve this volatile issue have required patience, foresight, and a little bit of luck. The Geomiq solution: Geomiq is the smart platform for instant quotes and ordering of custom manufactured parts. The two-sided marketplace offers a more competitive, more reliable, quicker way of procuring small batch custom parts. For buyers, Geomiq’s proprietary tools & technology make it easier and faster for engineers to access approved global suppliers. And for sellers, the data driven information provided by Geomiq helps suppliers manufacture the parts in demand. Geomiq balances the interests of both parties with smart matching, quality control, performance monitoring among its other capabilities, allowing Geomiq to take projects from design to production in a streamlined process. Why we’re investing: Alternative procurement solutions are highly in-demand as manufacturers scramble to ready their supply chain needs for new products and seek to bolster supply chain resilience. Time may help, but it will not heal all. While some supply chain issues can be resolved with patience, other strains still persist and will continue to do so . Brexit, the COVID-19 pandemic, and now the War in Ukraine have all illustrated the need for supply chain resilience, and Geomiq arms operations with the supply chain tech to excel in their industry. Further reading: Making supply chains accessible to all man

By Kelly McGowan (Wyman) at TechNexus Venture Collaborative