Hey guys, it’s been a while. I’m back for another review. For this one I chose Syncfab [MFG].
Financial Disclaimer: I did not receive any sort of payment for making this review. This is purely done out of my own interest to share my thoughts and educate people about Syncfab. I do hold MFG tokens personally however, so I am biased.
A quick overview on what Syncfab does:
SyncFab connects OEM Part Buyers with Distributed Parts Manufacturers backed by Distributed Ledger Blockchain technology solutions for superior security, traceability and supplier management. Based in Silicon Valley, SyncFab is partnered with the NTMA (National Tooling and Machining Association) and a founding member of CESMII (Clean Energy Smart Manufacturing Innovation Initiative).
Their Mission is to simplify digital transformation in the manufacturing supply chain to increase capacity utilization for suppliers — improve accessibility to OEM supply chain buyers — secure, incentivize and trace production data using blockchain — while reducing wasted resources for the planet.
- Make manufacturing locally easy.
- Bring Blockchain into traditional supply chains.
- Build the largest advanced manufacturing network.
- Develop Smart Manufacturing applications for Industry 4.0
Let’s simplify what all of this means, what the problem is in the supplychain industry and what solution Syncfab brings to the game:
In many industries like Aerospace, Automotive etc… Fake parts and hard to trace production documentation pose a real threat to safety. Counterfeit parts in the supply chain have become a huge issue. The FAA estimates that about 500 000 bogus part installs occur each year. The result of this is clear to see. in the Automotive industry recalls are skyrocketing due to fake parts being installed. The aerospace and automotive industry in particular have no room for error as a failing part can cause catastrophic outcomes.
Syncfab’s platform allows OEM managers to tokenise parts in their supply chain wether it be for IP protection, Parts recall, Parts provenance or Track&Trace.
Syncfab has a patent pending for Hardware Tokenisation. Using Syncfab’s Hardware Tokenisation app for at the point of production will save companies years of time and billions of dollars on trial and error.
When a supplier tokenises a part through Syncfab, quality and manufacturing details are immutably stored on the blockchain. Represented by the NFT [MFGPRT] token. This allows the buyer to control quality and maintain a complete POM history of their parts.
Instead of having to manually pull historical documentation on parts to find out where it was manufactured or who repaired it, which can take weeks or even months in some cases, buyers can now simply pull up the Syncfab App and scan a part to pull op the complete history and origins in real-time.
So now when a problem arises with a part, it becomes super easy to track and trace faulted parts and isolate them. I don’t have to draw a picture here to make you realise this could save companies billions of dollars.
Until here my intro about Syncfab’s platform. There is already an extensive review done on Syncfab and the utility of the MFG token by Nitramydes, which can be found here:
I myself decided to do a deep dive into the Clients of Syncfab.
Let’s discuss the ones on the frontpage of https://syncfab.com/ first as they are quite impressive to say the least:
Lockheed Martin
Lockheed Martin Corporation is an American Aerospace, Defense, Arms, security, and advanced technologies company with worldwide interests. It was formed by the merger of Lockheed Corporation with Martin Marietta in March 1995. It is headquartered in North Bethseda, Maryland, in Washington DC. Lockheed Martin employs approximately 110,000 people worldwide as of January 2020.
Lockheed Martin is one of the largest companies in the aerospace, military support, security, and technologies industry. It is the world’s largest defense contractor , based on revenue for fiscal year 2014. In 2013, 78% of Lockheed Martin’s revenues came from military sales; it topped the list of US federal government contractors and received nearly 10% of the funds paid out by the Pentagon. In 2009, US government contracts accounted for $38.4 billion (85%), foreign government contracts for $5.8 billion (13%), and commercial and other contracts for $900 million (2%).
Half of the company’s annual sales are to the U.S. Department of Defense. Lockheed Martin is also a contractor for the U.S. Department of Energy and the National Aeronautics and Space Administration (NASA).
With over 110 000 employees worldwide, Lockheed Martin is valued at $125 Billion
SpaceX
Space Exploration Technologies Corp., trading as SpaceX, is an American aerospace manufacturer and space transportation services company headquartered in Hawthorne, California. It was founded in 2002 by Elon Musk with the goal of reducing space transportation costs to enable the colonization of Mars. SpaceX has developed several launch vehicles, the Starlink satellite constellation, and the Dragon spacecraft.
SpaceX’s achievements include the first privately funded liquid-propellant rocket to reach orbit (Falcon 1 in 2008), the first private company to successfully launch, orbit, and recover a spacecraft (Dragon in 2010), the first private company to send a spacecraft to the International Space Station (Dragon in 2012), the first propulsive landing for an orbital rocket (Falcon 9 in 2015), the first reuse of an orbital rocket (Falcon 9 in 2017), the first private company to launch an object into orbit around the Sun (Falcon Heavy’s payload of a Tesla Roadster in 2018), and the first private company to send astronauts to the International Space Station (Dragon 2 in 2020). SpaceX has flown 20 cargo resupply missions to the International Space Station (ISS) under a partnership with NASA, as well as an uncrewed demonstration flight of the human-rated Dragon 2 spacecraft (Crew Dragon Demo-1) on March 2, 2019, and the first crewed Dragon 2 flight on May 30, 2020.
With over 8000 employees, SpaceX is valued at $36 Billion.
Sikorsky
Sikorsky Aircraft is an American aircraft manufacturer based in Stratford, Connecticut. It was established by Russian–American aviator Igor Sikorsky in 1923 and was among the first companies to manufacture helicopters for civilian and military use.
Now this here is a company that made history. Take a look at them on Wikipedia and you’ll be amazed of all the things this company has done.
https://en.wikipedia.org/wiki/Sikorsky_Aircraft
On July 20, 2015, Lockheed Martin announced an agreement to purchase Sikorsky from UTC for $9.0 billion.The sale was completed on November 6, 2015.
Lucid Motors:
Lucid Motors, Inc. (formerly known as Atieva) is an American automotive company specializing in electric cars. The company was founded in 2007, and it is based in Newark, California.
The company has seen investments from Tsing Capital, Mitsui, Venrock, JAFCO, and others, providing an estimated $131 million by 2016. Venrock, Mitsui, and JAFCO are still current investors in the company.
The company rebranded to Lucid Motors in October 2016 and officially announced its intent to develop an all-electric, high-performance luxury vehicle.
On November 29, 2016, state and company officials announced the planned construction of Lucid’s $700 million manufacturing plant in Casa Grande, Arizona, which was projected to employ up to 2,000 workers by the mid-2020s, initially building 20,000 cars and expanding up to 130,000 cars per year. The factory is designed for a maximum capacity of 380,000 car per year.
On September 17, 2018, Lucid Motors announced that they were in talks with the Public Investment Fund of Saudi Arabia for a funding valued at over $1 billion. The investment was completed in April 2019 and will fund the final engineering and testing of the Lucid Air model, the first-phase construction of its manufacturing plant in Casa Grande, Arizona, the commercial production of the Lucid Air, and its worldwide retail strategy beginning in North America. Construction began in late 2019.
ClearMotion
ClearMotion develops and creates automotive technologies to improve the quality of time in cars. The company is commercializing the world’s first super-active ride system to improve the quality of time spent in cars.
ClearMotion was founded in 2009 by Shakeel Avadhany, Zackary Anderson & Vladimir Tarasov. The company was formerly known as Levant Power Corporation and changed its name to ClearMotion, Inc. in January 2017. ClearMotion is headquartered in Woburn, Massachusetts with an additional office in Warwickshire, United Kingdom.
ClearMotion replaces a car’s shock absorbers with powerful, fast-acting software and actuators that pull/push each wheel, delivering an experience like no other. It offers ClearMotion, a chassis system with software and actuators that pushes/pulls each wheel that is used as a replacement for the car’s shock absorbers.
ClearMotion is backed New Enterprise Associates, JP Morgan, and Qualcomm Ventures among others. The company has acquired Bose Corporation — Active Motion Control Business, on Nov 15, 2017.
Yearly Revenue: $100M-$500M
Employee Size: 201–500
Business Valuation: Valued $2B as of Jan 08, 2019
Divergent Technologies Inc.
Divergent3D Founded in 2014, designs and manufactures automobiles. The Company supplies sports cars. Divergent Technologies serves customers in the State of California.
In 2017, Divergent 3D, the Los Angeles startup backed by Hong Kong billionaire Li Ka-shing, raised just over $65 million in a funding round that will help it complete an experimental factory equipped with 3-D metal printers and techniques adapted from the aerospace industry that’s designed to dramatically cut the cost and environmental impact of auto production.
With the Series B round, which has an investor option for another $40 million if needed, the company has raised more than $90 million and is “fully funded to complete our reference factory,” CEO Kevin Czinger told Forbes. Hong Kong’s O Luxe Holdings led the latest round, which drew additional investments from Li Ka-shing’s Horizons Ventures, Shanghai Alliance Investment Limited and Altran Technologies.
“This allows us to do our full scale up, and is actually more cash than we need through break even” operations, Czinger said in an interview. “This is likely our last private funding.”
Divergent 3D is part of the “additive” manufacturing revolution in which high-speed 3-D printers are being used to make complex products out of metal and composite materials. Czinger, a former Goldman Sachs investment banker who previously created the electric vehicle startup Coda Automotive, intends to license Divergent 3D’s technology for highly flexible factories that produce an extensive range of vehicles under one roof, with no need for welding, paint shops or conventional heavy machinery.
A typical car plant costs between $500 million and $1 billion to build, and the tooling and machinery are amortized over many years, which is why they need to produce hundreds of thousands of vehicles per year to be profitable. Divergent 3D promises it can build a production line for 20,000 or more cars a year in a warehouse-type space, complete with large-scale 3-D metal printers, laser cutters and assembly robots, for just over $50 million. Because of lower capital and production costs, vehicles would be up to $6,700 cheaper to build, on average, Czinger says.
Medshape:
MedShape Inc., Founded in 2005, is an industry leader in orthopedic devices. They are a privately held orthopedic medical device company located in Atlanta, GA working to provide innovative surgical solutions to foot & ankle surgeons using their patented NiTiNOL and shape memory polymer technologies. The company’s product portfolio includes devices for both joint fusion and soft tissue repair surgery. They are a constantly evolving orthopedic foot & ankle device company, using proprietary advanced material technologies. They allow surgeons to use the most innovative orthopedic devices anywhere — unique devices that can transform and adapt inside the body. They are dramatically improving the technology of joint fusion and soft tissue fixation.
That’s it. For now…
Obviously for all of these clients it would make sense that they want to be 100% certain they are using quality parts for their devices/machinery. Syncfab’s platform becomes the perfect solution here and as you can see has been recognized for it.
So here ends my review, hope you guys enjoyed reading through it and understand a little more about Syncfab and what they do ;) Thanks for reading!
