Will Drewery, the founder and CEO of Diagon, a Black-owned tech platform that is transforming the manufacturing procurement industry, is celebrating having raised $5.1 million. Their innovative procurement platform promises a simpler, faster process for businesses seeking to build or expand their operations.
The funding round was led by The Westly Group with support from Valia Ventures, Techstars, Foster Ventures, Foxe Capital, Anthemis Group, Ventures Together, and REFASHIOND Ventures: The Industrial Transformation Fund, according to Shoppe Black.
Setting up new manufacturing facilities comes with its fair share of challenges. Finding trustworthy suppliers and managing complex equipment projects are among the top hurdles. Diagon steps in to solve these problems with a user-friendly approach.
The platform connects manufacturers with a network of verified equipment suppliers, system integrators, and service providers, making it easier to find suitable partners. Diagon also offers intuitive tools tailored for managing equipment procurement projects efficiently.
With Diagon’s platform, manufacturers can revolutionize their procurement process. Traditionally, sourcing equipment has been tedious and complicated. Diagon simplifies this by helping manufacturers find and acquire equipment quickly, much like large corporations.
Moreover, the platform features milestone tracking, real-time project updates, and robust project management tools, empowering businesses of all sizes to handle complex projects effectively.
Diagon’s leadership team boasts extensive experience in the manufacturing industry. Will Drewery managed significant capital expenditure (CAPEX) at Tesla, which inspired the vision for Diagon’s platform.
The company’s strategic focus targets the $640 billion North American manufacturing equipment market. This new funding will fuel Diagon’s growth, supporting platform development, talent acquisition, and outreach to key industries like aerospace, automotive, and battery production.
Diagon aims to revolutionize American manufacturing by simplifying procurement and empowering businesses to create state-of-the-art factories. With its innovative approach, Diagon is poised to reshape the industry landscape.
Learn more about the company via its official website at Diagon.ai
