Jiga, a Y Combinator W21 alum operating a manufacturing procurement platform, closed a $4.1M funding round led by Symbol.
“The aerospace industry is facing a growing demand for new and innovative products, and it’s crucial that companies have quick access to the right parts and materials to meet this demand,” Jiga CEO Adar Hay told Payload via email. “By digitizing and automating key parts of the purchasing process, we help companies save time, reduce waste, and better manage their supply chain.”
Tackling the supply chain
Jiga aims to make procurement “smoother, faster, and more cost-effective,” Hay said. The company is focused on aerospace parts, but serves enterprise customers in other industrial verticals.
The startup’s platform allows users to upload CAD files of required components, then generates quotes from suppliers for buyers to compare. Throughout the process, the platform enables messaging between suppliers and buyers as well as a progress tracker, which helps ensure components are delivered on schedule.
Jiga’s parts marketplace is currently up and running, serving suppliers and customers in aerospace and beyond. The company charges a small markup on parts, as well as a subscription fee for certain additional features and integrations.
Up next: With this fresh round of funding, Jiga has its sights set on growth. Hay said that the company is planning to layer more features and integrations into its platform as it builds out both supplier and customer bases.