Previously launched in the biggest electronic manufacturing conference in Europe, electronica 2018 trade fair in Munich Germany between 13-16 of November.
Sourcingbot started as a research project at Humboldt universitat in Berlin and was the first startup to graduate from the respected international program of exist startup Germany. In its second year they raised a seed round to assist them in getting to market from public investors in the state of Brandenburg.
While procurement is already online, stating the death of the B2B salesman many years ago. Its back-roots led to what we see today in major shift towards online e-Commerce, as old new as it may sound, some markets still remain offline due to technology barriers.
Improving logistics and technology allowed this shift to happen fast, but for sourcing market there is an inherent problem for the electronic component market that prevents a true shift online because data presented in the numerous platforms basically presents datasheet information.
Technical specifications are all presented online, the lab environment chosen by the part manufacturer to test its products are not similar, sometimes for marketing reasons, sometime to protect market share to remain in the same place.
Different lab environments prevent the information to be comparable. At times intentionally and at times from optimizing product results. We know that part manufacturers choose their environments to present optimized part specifications that would serve marketing purposes first and engineers later and only perhaps. Creating islands of information that are not comparable and moreover, kept within what you can transfer to. Limiting your potential alternative suppliers’ market to what they promote.
In recent years, major consolidation happened in the industry of part manufacturing as well as distribution fields, with the aim to keep the negotiation table for BOM parts limited to the island you started at. First, preventing small and medium suppliers form reaching market and secondly, dominating the information you have and what you can replace it with. Market share is key to this trend, with distributions and part manufacturing getting closer then ever and many times overlapping.
Sourcingbot aims at building this bridge, beginning with tests of electronic parts, initially focusing on passive components before commencing to other part types. Using our certified lab, we test and simulate part behavior under different temperatures and frequencies for example. Making our database truly trustable and comparable.
Therefore, they can indicate how accurate the datasheet-based information is and then allow you to cross reference with different suppliers, which is a best practice widely used in the manufacturing industry today. Adding extensive simulation capabilities that can simulate 2 parts at the same time for cross referencing.
Ran Oren, CEO at sourcingBot said that, “with market demand increasing the shortage in passive components is generating huge margins for manufacturers, the answer to demand can and should be found at smaller manufacturers who can support needs faster and have more production bandwidth. But this is not happening when data is partitioned into market bubbles.
Sourcingbot will present their platform at electronica fast forward- Hall C5 Booth 225. Where they will conduct real lab testing of inductors and showcase their platform and why their data is more reliable then datasheet information.
Following this launch they will continue to launch their unique similarity algorithm on Passive components and Memory ICS, Semi-conductors. “Our research department”, added Ran, is relying on significant machine learning capabilities that enable us smart matching that’s going to help you in your operating point and considering other design constraints at the same time.”