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Makersite lands $18M to help companies manage product supply chains

ItemDate=2022-11-15 03:24:03 Status=publish

TopicTaglist=['V2', 'G0']

#News(Startup) [ via IoTGroup ]

In 2018 Neil D’Souza a software engineer by trade and previously the VP of product development at Thinkstep came to the realization that his 10-plus-year effort to solve enterprise product challenges in the areas of sustainability compliance and risk were having little impact.That frustration was the genesis of his startup Makersite which aims to produce near-instant impact assessments in the areas of sustainability compliance and risk to inform corporate-level decisions.

Makersite D’Souza says is an attempt to bridge the gap between experts who know what “good” looks like from an environmental cost compliance or risk perspective and decision-makers with control over the product supply chain.D’Souza says the tranche — Makersite’s first besides “a few convertible notes”; the company was bootstrapped until now — will be put toward work with integrators and resellers and expanding the size of Makersite’s team.“There are many companies out there that specialize in solving cost compliance risk or sustainability challenges.

Using AI Makersite maps a company’s product data against a material and supply chain database generating automated reports.The aforementioned database — which D’Souza says is among the largest of its kind — allows Makersite to identify contextual relationships to build a model of products and their supply chains automatically.“[Makersite] enables a customer to drop in a bill of material for say a wind turbine tell the AI that it’s a wind turbine answer a few questions (e.g.about power output) and the system will automatically build a ‘cradle-to-grave’ model of that turbine that’s localized to where it’s made and where it’ll be erected ” D’Souza explained.“That allows you to optimize designs of specific elements of the turbine — like the tower and nacelle — to locally available resources and infrastructure such as recycling facilities and understand trade-offs across the lifecycle and criteria like cost risks and regulations.” As Makersite grows

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