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3D printing is the process of making 3 dimensional solid objects from a digital file. A 3D printed object is made through the additive process, where, an object is created by laying down successive layers of material, until the object is finally created. Owing to many benefits like, easy customization and high speed production, 3D printing has reached critical mass and is now rapidly transforming into a production technology.
It is used in many fields like braces in dentistry, eyewear, architectural scale models, prosthetics, movie props, designs in lamps or furniture and many more. And if you are looking for these 3D printing services for whatever purpose, fitting you in a budget and that too done in good quality, Chizel Prints has got your back. Chizel helps companies manufacture 3D parts for various purposes at the right cost, with high predictability and low risk and also simplify their supply chain.
Truventor.ai, an Australia based deep-tech led manufacturing company has acquired Chizel.io. It is a 100% stock deal along with part of Chizel Founders in the Truventor Management.
Discover the Journey of Chizel along with its Business Model, Funding, founders, Revenue, History, competitors and more.
Chizel - Company Highlights
| StartupName | Chizel |
|---|---|
| HeadQuarter | Pune |
| Founder(s) Name | Yash Rane, Ravi Ranjan & Devang Saini |
| Sector | Manufacturing Tech/MaaS |
| Founding Year | 2014 |
| Parent Company | Truventor.ai |
| Total funding | USD 200K (Seed) |
| Website | www.chizel.io |
Latest News - Truventor.ai has announced strategic Acquisition of Chizel.io
Chizel - About and How it Works
Chizel - Founders and Team
Chizel - Market and Industry details
How was Chizel Started
Chizel - User Acquisition
Chizel - Business Model & Revenue Model
Chizel - Funding and Investors
Chizel - Startup Challenges
Chizel - Competitors
Chizel - Growth
Chizel - FAQs
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Latest News - Truventor.ai has announced strategic Acquisition of Chizel.io
December, 2020: Truventor.ai, an Australia based deep-tech led manufacturing company has acquired Chizel.io. It is a 100% stock deal along with part of Chizel Founders in the Truventor ai Management.
Truventor provides an on-demand machine platform for sales and purchase experience through a single integrated platform. After acquiring Chizel, it has become the Largest Network of Part Manufacturers in India.
Soumitra Joshi, Founder & CEO of Truventor, says, “We are super excited to announce our entry into the Indian custom manufacturing industry through the acquisition of Chizel. We will leverage Chizel’s extensive batch manufacturing experience in India to deliver better business outcomes for our customers, enabled by intelligent workflows and deep-tech framework.”
Chizel - About and How it Works
Chizel is cloud based platform, where a user just has to login, and upload the design. The software looks at the design, uses proprietary manufacturing algorithms to provide instant costing, turnaround time and feasibility analysis. This computation is done simultaneously for various materials and processes, which otherwise if done manually takes 2 - 48 hours. Customer can also place the order of manufacturing through Chizel. Once confirmed, Chizel receives the order and takes complete responsibility to get the part manufactured through their manufacturing partners, ensure quality and deliver it to the customer right at their doorstep. The entire manufacturing workflow can be tracked and managed through a single dashboard.
Today, every company has a sourcing team because it becomes difficult for businesses to run otherwise. It is okay if you are buying off the shelf listed products, because in that case quality is standard and only thing you need will be at the check cost, at which you are sourcing. However, when you source custom parts, lot of thought process and analysis is done in the identification of suppliers, cost of manufacturing, turnaround time, feasibility, risk analysis etc. This entire workflow is done on call or mails or even spreadsheets by engineers who have only limited know-how of suppliers and manufacturing process. Also, once the order is awarded to a specific supplier, it is difficult to track every step at shop floor. Any deviation in the workflow if not recorded anywhere, can lead to the loss of data and learning as well. There is lack of transparency.
Chizel 3D printing solves this problem, by a one-stop shop cloud software. With their software a company can get instant quotes, timelines and feasibility of part at click of a button. Once any company finalizes a design and places an order, Chizel identifies the right partner on the back end who can fulfill the part in given cost, timelines and quality. Chizel underwrites the quality in the entire workflow.
Customers essentially get solutions for the following case uses from Chizel:
- New product development
- Production of parts with annual volume of less than 10K
- Cross country buyer seller location
Chizel - Founders and Team
Three IIT Roorkee alumni Yash Rane, Ravi Ranjan and Devang Saini founded Chizel in 2014.
Yash Rane is the CEO of Chizel. He is an Mechanical Engineer from IIT Roorkee and started his professional career in Automotive Industry (Mahle) as a Purchase Manager. He understands the need of manufacturing parts on-demand. Coming from Techno-Commercial background, he is great at Sales and Marketing for Chizel.
Ravi Ranjan is the COO of Chizel. IIT Roorkee graduate in Mechanical Engineer, he has 12 months experience working in Oil and Gas Sector (Reliance) as Maintenance Engineer. Working on production, supply chain and engineering, he manages Day-to-Day operations and finances at Chizel.
Devang Saini is the CTO of Chizel. He is a Civil Engineer from IIT Roorkee but found his passion in Cloud Product development. With 4 years of corporate experience, Devang started 'Cassetz' a cloud based music collaboration solution, that brings together musicians from around the world . With 2 years of arduous entrepreneurial background, he is the mind behind Chizel’s software.
Chizel - Market and Industry details
The entire workflow that Chizel operates in is called on-demand manufacturing. The market of on-demand manufacturing is already there, it is just fragmented and traditionally done. India's manufacturing market size is $300 billion and it is poised to become $1 trillion by 2025. This 300B dollar is further distributed into 24 categories.
However, Chizel is currently focused on engineering component manufacturing highlighted in red above and anticipate it to be USD 360B globally.
How was Chizel Started
In the 3D printing startup space, Chizel has spent almost 5 years in the business now, but when they started, they wanted to build Etsy for 3D printing, where they acted as a B2C e-commerce platform selling customizable 3D printed lifestyle product. They made great design products. Unlike any other e-commerce Chizel never had any inventory. They used to manufacture the parts only when orders got placed. Within 2-4 days of placing the orders, the part would be ready to be delivered. Chizel had lot of 3D printing machine shop partners who manufactured the part for them. But struggled with getting consistent quality out of 3D printers and the price points of 3D printed parts left them only selling to top of the pyramid i.e. the rich class of customer base. In 2016 late, they discontinued the same and it changed their entire business model.
Now, while they had 3D printing partners, Chizel realized that they have a very good sourcing and engineering know-how of 3D printing manufacturing. They wanted to build a cloud platform where they could help other B2B companies to access this network and get engineering value added. They started building it, launched the beta in 2017 December and when it launched, customers liked the entire offering but they asked for more manufacturing processes and not just 3d printing, as it is just one way to make a part. To meet the customer demand, Chizel has now also ventured into CNC Machining, Vaccum Casting, Injection molding and sheet metal fabrication. Besides, they also supply materials for manufacturing of parts.
We experienced the problem of product designers, engineers and procurement officers that it is too difficult and time consuming to find the most optimal solution for their need of part manufacturing. They spend days sending the RFQs, waiting for feedback, discussing feasibility for productions. Also, given the number of processes, materials available, and suppliers available engineers are not always fully aware of complete manufacturing know-how and Total cost of manufacturing (including risk analysis). The entire process is inefficient and slow, reducing the turnaround time and leads to poor inventory management.
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Chizel - User Acquisition
Chizel's customers come from diverse sectors like medical devices, automation and robotics, special purpose machines, automotive, pharmaceuticals and many more. Considering the scale, Chizel have - Startups, SMBs and enterprise as three pillar categories.
For first 100 customers, Chizel focused only on Startups and SMBs as they are always short on hands to work. Sourcing and manufacturing expertise for customers becomes a very special USP that no one else does. For first 100 customers, spending time with them, understanding there real problems are very important, as done by people at Chizel. Chizel launched initially with outbound sales approach purely and are identifying channels to scale further.
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Chizel - Business Model and Revenue Model
The Chizel business model works on a pricing model for markup on sourcing cost. They add markup purely depending on dynamic parameters like part size, volume, material, criticality, turnaround time, suppliers availability etc. and the gross margins varies from 2% to 25%.
Chizel - Funding and Investors
In May 2018, Chizel raised a seed funding of USD 200K from GSF Accelerator.
Chizel - Startup Challenges
Irrespective of industry, the most challenging task is hiring the right team.
we still do not have right recipe to hire right people, but definitely we spend more time in evaluating them. Because once onboarded, going back takes lot of time and energy - says Yash Rane
Chizel gets people for 2 months on an internship period arrangement. And if they are highly impressed by the interns they get them on-board as a full time member.
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Chizel - Competitors
Chizel is highly motivated by the global competitors like Xometry and 3DHubs. They are in more mature market which makes technology adoption easy for their customers and suppliers.
Being in Indian market, for us how we develop our technology to deepen its penetration will be key, hence we are building our software from ground up and from scratch. Which means we own the entire experience, there is no third part API dependency. We also have far more better control over the DATA security ensuring privacy of our customers.
Chizel - Growth
Chizel has been successful in craving a niche for itself in mechanical component manufacturing sector. Besides startups and SMBs, the company has well known brands such as Volvo, Capgemini, Funskool, Eaton, Thermax, Mahindra automobiles, Lam Research etc as its client.
Our long term vision is to continue make a world digitalized and more efficient and augmenting man-machine interactions. For now, we are more focused on improving the workflow and interaction between manufacturing machines and engineers, procurement managers. Anything in between this, we aim to automate.
As of 2018, Chizel's valuation stood at $1 Million with Revenue around $118k as on Dec 2017.
Chizel - FAQs
What is Chizel?
Chizel helps companies manufacture 3D parts for various purposes at right cost, with high predictability and low risk and also simplify their supply chain. It is trusted source for batch production and rapid prototyping services in CNC machining, sheet metal fabrication, 3D printing & injection molding
Who are the Founders of Chizel?
Yash Rane, Ravi Ranjan and Devang Saini founded Chizel in 2014.
Who are the Top Competitors of Chizel?
Chizel is highly motivated by the global competitors like Xometry and 3DHubs.
Author: Chayanika Goswami
Source : https://startuptalky.com/chizel-success-story/
Date : 2021-04-02T16:18:00.000Z