Prototype Hubs – 17 November

17 Nov 2020
 

We last featured Prototype Hubs in April 2020, since then they have been growing rapidly through the pandemic and are looking to expand in 2021. 

Prototype Hubs

Getting quotes and interacting with multiple manufacturers is a slow and outdated procedure. Prototype Hubs has developed an AI-powered, advanced manufacturing, web-based platform to automate and simplify the manufacturing process so that customers can get hundreds of instant prices and feel great about choosing a manufacturing partner that meets their requirements.

The main advantage over their competitors is that they offer customers hundreds of instant prices in seconds with the customer’s choice of manufacturing partner. Competitors, on the other hand, can only offer a single price while the job is farmed out to an unknown manufacturer.

Traction

Prototype Hubs launched publicly in August 2019. Since then, they have established relationships with over 635 Manufacturers in over 26 different countries. They have also managed to process over 6,800 quotes, with this number rising continuously.

Since January of 2020, Prototype Hubs has seen a month-over-month increase in sales of 235%. COVID-19 has helped accelerate that growth as many people are now looking to diversify their supply chains and source parts more locally.

 

Team

Mitchell Eaton, Co-Founder & CEO

Tien Nhan, Co-Founder & CTO

 

Funding

So far Prototype Hubs has been self-funded and is bootstrapping. They are now looking to raise $1,000,000 and use this funding to accelerate their global growth and expand their team. The majority of funds will be used for marketing and sales growth.

Currently, they are looking into hiring some summer students to help give back to their communities. The Prototype Hubs team were once students as well, and they know how hard it can be to be a student, so they would like to do their part and extend an opportunity to local students.

 
 

Revenue Model

Prototype Hubs earns commission from all sales through their site. They also receive recurring revenue from manufacturing partners that have upgraded accounts. A new white-label SaaS plugin feature for manufacturing Partners will also be launched during the first few weeks of December 2020 as another source of recurring revenue.

Details

Website, Twitter, Instagram, LinkedIn

Or contact Mitchell Eaton (CEO & Co-Founder) directly at:

mitchelleaton@prototypehubs.com 

 

 
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