Gembah: Product Development Leader Announces $11M in Funding
Established in 2018 in Austin, TX and founded on the belief that humans are natural inventors, Gembah’s goal is to empower creators and make product development accessible to anyone. The leading platform and “product development marketplace” specialises in bringing new products to market through all stages of development. Gembah connects creators to its global network of designers, engineers, and supply chain specialists.
Gembah oversees production at factories in China, Southeast Asia, Mexico, and South America and has been featured in Forbes magazine for shortening time-to-market by leveraging AI.
Today, they announced an $11M Series-A round of funding led by ATX Venture Partners. To date, the total funding raised is $14.4M. Additional investors in the round include Silverton Partners, who led the company’s seed round, Flexport, Brett Hurt, Jim Curry, and Dan Graham.
Propelling innovation; from idea to fruition in 90 days
Historically, new product development comes with very large upfront capital and resource requirements. Now, by drastically reducing the barriers to entry for the creation of new products, Gembah looks to democratise product innovation.
Gembah is fueling innovation and empowering millions of small and medium-sized businesses (SMBs) and first-time product creators, helping to turn ideas into fruition. The new funding is earmarked to further develop Gembah’s platform and to expand its team and network of partners domestically and overseas.
“Gembah is a true innovator poised to help businesses capitalise on the growth of global eCommerce,” said Chris Shonk, Managing Director at ATX Venture Partners. “The Gembah marketplace promises to unlock virtually unlimited entrepreneurial equity by enabling a whole new breed of creators to enter the market.”
Gembah is the world’s first end-to-end product innovation platform. It connects customers to expert resources from product creation all the way through manufacturing. Because entrepreneurs are connected to vetted, expert resources, Gembah dramatically reduces the risk, cost, and time to bring a new product to market.
By leveraging AI and machine learning to optimise workflows, the platform eliminates the traditional inefficiencies involved in designing and manufacturing products, reducing costs and collapsing time-to-market. Successful products can go from concept to reality in as little as 90 days.
“We believe that humans are creators, it’s what separates us from all the other species on the planet,” said Gembah CEO and Co-founder Henrik Johansson. “When creators are given the ability to create new products better, faster, and cheaper than ever before, and in more sustainable ways, it will fundamentally alter the types of products that are brought to market and the impact on the environment in positive ways.”
“Creating a product from scratch involves creative decision-making, supply chain logistics, strong communication with factories, product management, budgeting, and quality control. Without Gembah, our product line would not have gone to market as quickly as it did and with the legal protections that help us feel secure in the marketplace,” said Eric Finkelman, co-founder of Cali Weights.
JAGGAER: Advancing Procurement Technology in Healthcare
JAGGAER has revealed the latest technological advancements in its cutting-edge, ground-breaking system at this years Arab Health, hosted by Informa Markets, as the industry-leading all-in-one procurement platform provider continues to provide support for the global healthcare industry as it struggles to recover from a year and a half tainted by the novel Coronavirus, and the ongoing pressure that it is putting on hospitals and pharmaceuticals.
With new technology and innovation taking centre stage this year’s edition of Arab Health, JAGGAER announced the launch of its new ‘Digital Mind’ strategy. The strategy features a core set of advanced strategies, including embedded intelligence, predictive data analytics, and real-time user guidance that can all be used to support healthcare procurement teams with the necessary and oftentimes difficult strategic decision-making involved in the acquisition process. It’s set to better efficiency across the sector, reduce risk, and better customer service capabilities.
The Exponential Growth of IoMT
This development comes at a time when the Internet of Things (IoT) has started to infiltrate all industries in an elaborate way. In a report published by Deloitte, it has been suggested that the global market for the Internet of Medical Things (IoMT) is projected to exceed US$158bn by 2022, with the IoMT market specifically in the MENA region, expected to hit US$9bn.
Hany Mosbeh, Vice President of Sales Middle East & Africa, JAGGAER, said: ‘The healthcare sector is increasingly adopting disruptive technologies into the IoMT ecosystem including artificial intelligence (AI), augmented and virtual reality (AR/VR), and robotic process automation (RPA). From a procurement perspective, these technologies are also being utilised in our systems, having far-reaching benefits for the healthcare industry.’
JAGGAER’s Digital Mind
The new Digital Mind strategy incorporates JAGGAER Adopt, Assist and Advise. The latter of which enables users to be more proactive in recognising potential areas of improvement and mitigating challenging situations such as supplier risk. By leveraging a combination of advanced predictive analytics, machine learning, and customer-specific business rules, JAGGAER Advise empowers procurement professionals to identify steps that could improve performance or results and take corrective action on behalf of users.
The software also provides its users with data-driven actionable insights and recommends the next steps to mitigate the risk of supply disruptions, supplier qualification, performance issues, and underperforming sourcing events.
Speaking at one of the sessions during the event, Microsoft Research’s Chief Medical Scientist, Dr Junaid Bajwa, outlined the role of data in the healthcare sector, he said: ‘Today’s story is one of automation of processes, aggregation of data, moving to intelligent analysis and AI, and then repeating that cycle. If we get this right, it has the potential to reduce costs and support clinicians by unmasking occult disease types, generalising new associations and perhaps even generating new novel hypotheses and new mechanisms.’
Right now, JAGGAER supports over 120 healthcare organisations globally. They do so by modernising and transforming their procurement capabilities through digitalisation─an action that is propelling the industry forward at pace. To name just a small number of companies that JAGGAER services: Dubai Health Authority, Uniting Care, NHS England, HCA Healthcare, and Bright Horizons.
‘During Arab Health, we heard from a range of experts who highlighted the challenges directly linked to COVID-19, from developing enough vaccines to combat the infection to the flow of raw materials to make the vaccines. In an era of technological advancements in the healthcare industry that are saving lives, it is also important to utilise this technology from a business perspective so that we can identify future risk and improve performance’, Mosbeh added.