INNOVATIVE TECHNOLOGY COMPANY RAISES MONEY TO IMPROVE ELECTRONIC COMPONENT SOURCING FOR GLOBAL MANUFACTURERS

SAN FRANCISCO, May 16, 2023 /PRNewswire/ -- Mobius Materials, the first high-trust spot marketplace for electronic components, raised $735K as additional funding in a pre-seed round. The capital will accelerate the company's mission to fix a gigantic market breakdown in the electronic components industry — $15B of new electronic components are thrown away annually by manufacturers despite demand from buyers.

The round was led by Undeterred Capital, a seed-stage focused VC firm focused on deep technology investments like the authentication system built by Mobius Materials. Additional participation came from a scout investment from a top 3 venture capital firm, Trolley Ventures and high-profile angel investors.

Electronics manufacturers struggle to find liquidity for their excess electronic components, leading to losses of 2-5% of their inventory spend on average and over $15B across the industry. At the same time, supply chain issues have reduced sourcing reliability and held up production lines –causing huge losses. The Mobius marketplace allows electronics manufacturers to solve both problems by facilitating the buying and selling of authenticated electronic components to other manufacturers. 

Mobius Materials has built a marketplace platform that serves hundreds of manufacturers in North America, Europe and Asia in industries from consumer electronics to automotive. Now, electronics manufacturers can get quotes for hard-to-find authenticated parts in 2 business days using the new Request a Quote feature. On the selling site, manufacturers can also list and sell excess that has built up from changed forecasts, design changes and inventory accrual.

"With this recent funding round, we're investing to make it even easier for manufacturers to transact on our authenticated marketplace." says CEO and founder, Margaret Upshur. "With our new platform release, we are able to predict pricing for components over time, get quotes to sourcers within 2 business days and add additional authentication to the platform."

Mobius will use the funding to grow its team, specifically looking at hires for software engineers and operations specialists.

To learn more about Mobius Materials or to request a demo, visit www.mobiusmaterials.com. For media inquiries or interviews, please contact the company at [email protected].

About Mobius Materials:

Mobius Materials helps hundreds of the world's largest original equipment manufacturers and contract manufacturers source and liquidate electronic components. Founded in 2020, Mobius' mission is to use technology to make it transparent and profitable for businesses to bring raw materials back into the supply chain. For more information, visit www.mobiusmaterials.com.

SOURCE Mobius Materials