Can you tell us about starting Truventor? How is it working towards changing the face of the future manufacturing by disrupting traditional manufacturing?
The manufacturing industry has evolved considerably in terms of technologies and processes. While most of the developments have happened in their own silos, I see a huge scope in taking the industry to a different level in part by sourcing experience for customers & enhancing capacity and acquiring new job shops for part manufacturers. With this vision, to solve these issues, we launched Truventor.ai.
We are working on an on-demand manufacturing concept with which manufacturers will not only be able to sell their production capacities but also avail manufacturing solutions, like raw material procurement, working capital, etc, online.
Can you highlight the trends in on-demand, time-flexible and capex-free cloud machines for manufacturing? How can it help the industry?
On-demand manufacturing is in the nascent stage in India. It is such a unique concept that it helps the entire ecosystem in becoming more efficient. This concept can be a blessing to Indian manufacturing SMEs with its unique value proposition.
The MSMEs contribute around 30% to the total GDP and are the backbone of the Indian manufacturing industry. However, they face lots of challenges in their day-to-day business, like acquiring new customers, marketing their capabilities, efficiently utilising their capacity, skill development and availability of adequate finance, among others. These issues can be solved with the on-demand manufacturing concept.
Your organisation recently acquired Chizel. What is Truventor aiming to achieve with this takeover? How will it help strengthen your position in India?
Chizel has been in the B2B manufacturing marketplace for the last five years and has played an instrumental role in pioneering the on-demand manufacturing ecosystem in India. With this acquisition, we have become the largest network of part manufacturers in the country with over 700 suppliers in its network across the globe.
Out of all the Industry 4.0-based technologies, which technologies do you feel will gain prominence for manufacturing in 2021 & the future? Why?
Industry 4.0 is a combination of many exponential technologies applied to the manufacturing sector. Manufacturing relates to hardcore mechanical engineering, hence, if one does not understand the basics of manufacturing, he/she cannot generate value out of it. Industry 4.0 can be categorised into four slabs, namely – information, prediction, reaction and prescription. We believe all the components associated are key for the overall implementation and success of Industry 4.0.
What is in store for your start-up in 2021? What are your long-term goals?
We had an exciting 2020, and now we are gearing up for 2021. In 2021, we will release some cool features that will make job-shops more efficient and acquire more customers, expand our supplier network to other geographies and expand our operations in the Europe, the USA and SEA countries. Our long-term goal is very simple; we want to create a platform that provides ‘easy, efficient and economical way to start manufacturing’.