May 25, 2023, San Francisco – Volition announced a USD 11 million seed round that was co-led by Quiet Capital and Newark Venture Partners, with significant contributions from Lachy Groom, Alan Rutledge, Julian Capital, and Humba (Susa) Ventures. Volition is the first and only online industrial components marketplace created especially for the hardware development industry requirements. By acting as the center that coordinates all of the components in the world, it hopes to quicken the pace of hardware innovation.
Nick Pinkston, co-founder and CEO of Volition, said, “Volition is the first marketplace for the $2T industrial components industry that helps engineering and purchasing teams find and buy all of the parts they need to prototype and manufacture their designs.” “When my co-founders and I ran the bespoke manufacturing business Plethora, we wasted excessive time just looking for the correct components to construct our factory and the products for our clients. We collaborated with industrial wholesalers to build the most extensive catalog of these components in the world (16M products and rising), and we used our incredibly scalable data technology to immediately offer products for sale.
The broader eCommerce revolution has not caught up with the industrial distribution industry, especially for the 400,000 small and specialized suppliers operating in the sector. Because of the enormous expense involved in building extensive catalogues of such intricate products, these teams lack the resources necessary to develop a sophisticated online store catered to the unique technical requirements of their consumers. In the interim, their clients are wasting time and money calling and emailing suppliers to locate and get the necessary components.
These clients may now browse the broadest selection of products ever put together using Volition and then narrow their results to only the items that precisely match their requirements. Because general markets like Amazon and Alibaba cannot comprehend the massive amount of structured product data necessary to provide this user experience, this is the first time this has ever been achievable.
Nick Pinkston, Natalie Klapper, and Duffy Tilleman, who had previously collaborated at Plethora to build the first “self-configuring” factory, formed Volition. Additionally, Nick builds race cars, Natalie makes metal art and jewelry, and Duffy works with carpentry and construction. They are all lifetime hobbyists in hardware. Nick (CEO), a manufacturing tech entrepreneur born into a manufacturing family in the Western Pennsylvania Rust Belt, has dedicated his career to making hardware development as simple as software development. Before founding Plethora, he founded CloudFab, a custom manufacturing marketplace, and HackPittsburgh, the city’s first maker space.
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