Growth Capital | VCTs
Oxford based Plyable has developed its own proprietary software that uses AI and machine learning technology to automate the quoting, design and manufacture of composite tooling. Its innovative platform is helping clients to create prototypes that are 20% cheaper than standard methods whilst significantly reducing end product lead times.
Plyable’s solution analyses a customer’s CAD file and mould-ability, highlighting potential areas for improvement in seconds and using machine learning to build quotes based on component geometry. The platform uses a dynamic pricing model, with shipping calculated using an API in real time based on user location, dimensions and weight. Composite moulds are then created through one of 150+ global verified suppliers who are assigned jobs through exclusive supply chain technology, speeding up the entire procurement process and reducing timelines from months to days.
The global composites market is estimated at $95.3 billion and is expected to increase at a compound annual growth rate of 6.3%, driven by increasing demand for performance materials in the automotive, aerospace and defence sectors where the superior weight-to-strength ratio can generate fuel savings. Greater awareness of sustainability and environmental issues is also leading to increased adoption of composite materials. Global transportation currently accounts for 32% of all CO2 emissions and minimising weight is critical to reducing emissions.
We are thrilled to announce this additional funding for Plyable and to be partnering with a highly experienced investment firm such as Maven as we start our next chapter of growth. Since starting operations, Plyable has grown rapidly and now has a global presence. We are excited to deploy the capital to the company’s ongoing technological development and expansion of our ecosystem, particularly in Europe and North America.
Martin Oughton, CEO at Plyable
Meet the lead executive(s)