• More News

  • Bright Machines announces intention to go public and merge with SCVX


    By Amar Hanspal, CEO & co-founder, Bright Machines

    Back in 2018, we started Bright Machines because we saw an opportunity to bring software-defined intelligence to the factory floor and enable customers to modernize their manufacturing operations with speed, simplicity, and flexibility at the core of our capabilities. It’s been incredible to see what we’ve been able to accomplish in just under three yearsWe introduced our flagship product, the Bright Machines Microfactory, which has seen strong momentum, now serving 25 customers spanning network infrastructure, consumer goods, medical devices and more. Our solution has brought real, powerful results to these customers – reducing headcount, increasing productivityimproving yield, and so much more. Meanwhile, we have built a team of 500+ talented people who are aligned in our mission to transform this multi-billion-dollar industry.

    I am happy to share that Bright Machines is entering an exciting new chapter in our growth story: Today, we announced our intention to become a public company through a merger with SCVX, a special purpose acquisition company. We believe this decision will put Bright Machines in a position of stable longevity, which only means good things for our customers.

    If our traction has been any indication over the past three years, the winds of change have been in our favor. Rapid technological innovation in the sector, combined with pandemic and trade-fueled reshoring commitments, has accelerated digital transformation in manufacturing. According to a late 2020 survey of select manufacturing executives, 76% of respondents intend to increase their investments in digital initiatives and implement more Industry 4.0 technologies going forward.

    It became increasingly clear to us that we need to hit the gas on our growth plans.

    While this unique path to going public arms us with more resources and allows us to get capital influx more quickly than we would have with a conventional IPO, I am most excited about what this means for our customers and the broader manufacturing ecosystem.

    We believe today’s announcement puts Bright Machines in a position to rapidly accelerate this shift to digital transformation at scale, bringing speed and flexibility to a market that has seen significant changes in global supply chains as manufacturers demand robust and resilient operations. We plan to substantially accelerate our growth and better serve our customers by doubling down on our software solutions and increasing our investment in customer service. We also intend to expand our reach through new sales channels and geographies. By doing this, we believe that we will be best positioned to improve the speed and economics of smart production lines and, eventually, fully programmable factories.

    Between tariffs, ongoing geopolitical tensions, and changing consumer demands, global supply chain issues aren’t going away. The pandemic created an urgency for manufacturers to rethink their factory footprint, but most do so, knowing that the next disruption may be just around the corner. Fortunately, Bright Machines is here to help – and we’re only just getting started.

    To our customers – current and future – thank you for your support and for joining us on this journey. Now, let’s get to work!

  • Subscribe today to the industry leading magazine and newsletter

    Keep up-to-date with information about worldwide trends straight to your inbox or through our printed magazine.