Bright Machines

Bright Machines combines robotics, machine learning, and computer vision to provide automation applications for the electronics manufacturing industry. Clients can set up customized manufacturing lines based on a subscription model approach. Bright Machines launched Microfactory-as-a-Service (MaaS) for factories that may have labor shortages or smaller factories that struggle to scale production, providing affordable technologies. The manufacturer is able to instruct a machine to assemble products according to specified requirements and inspect them by combining intelligent software and hardware affordably. Bright Machines Microfactories include Brightware (a cloud-based software), enabling machine instruction to create assembly lines and perform manufacturing tasks. This software-defined manufacturing allows factories to change the products that they manufacture if needed.

The company was named a World Economic Forum Technology Pioneer in 2019 and is also considered one of the fastest-growing startups. Its microfactories are used in manufacturing firms in multiple industries. The company forecasted about USD 100 million in sales from June 2019 to January 2021 in signed contracts. In May 2021, Bright Machines reported that its revenue doubled each year since its inception (2018) and forecasts a 5-year CAGR (2020-2025) of over 84%. As of May 2021, it has amassed 36 patent filings, and its clientele includes 40+ global manufacturing companies.

Key customers and partnerships

To include Bright Machines Microfactories among their offerings, Bright Machines has partnered with various companies throughout 2021, including Anstar Corporation (a distributor of metal cutting, fabrication, and automation capital equipment), SMT Capital (an electronic assembly equipment provider which serves manufacturers in the Ohio Valley), MaRC Technologies (a distributor of electronics manufacturing solutions and equipment), PAC Global (a provider of electronics manufacturing solutions with six offices across the southwestern US and Mexico), Restronics (a consultative OEM sales representative company for clients in New York, New Jersey, Florida, and the Southeast region), BROCK Electronics (a manufacturers’ representative providing equipment and supplies to the electronics assembly industry in Canada), Murray Percival (a supplier of assembly equipment and materials to the Midwest’s electronics industry), Competitive Edge Manufacturing Equipment (CEME) (a supplier of automated electronic PCB assembly, inspection, and test equipment for clients in Southern California, Southern Nevada, and Baja California). Anstar has offices in Illinois, Wisconsin, Minnesota, North and South Dakota, having served 20+ years in the CNC (computer numerical control) machine tool industry, while MaRC Technologies serves manufacturers in the Pacific Northwest for over 25 years.

Funding and financials

In October 2022, Bright Machines raised USD 132 million–USD 100 million in a series B round led by Eclipse ventures, and USD 32 million in debt led by Silicon Valley Bank and Hercules Capital, Inc. The funds were expected to be used to accelerate growth by expanding into high-demand industry verticals, and developing new software and service offerings to complement its existing portfolio of products.

The company announced its public listing via a merger agreement with SCVX, a special purpose acquisition company in May 2021 which was subsequently terminated in December 2021.

Bright Machines forecasted about USD 100 million in sales from June 2019 to January 2021 in signed contracts. In May 2021, Bright Machines reported that its revenue doubled each year since its inception (2018) and forecasts a 5-year CAGR (2020-2025) of over 84%.