We have always been fascinated by the transformative potential of AI in industries that have been slow to adopt new technology. Large language models have the power to solve challenges in these sectors by structuring disparate data, enabling the automation of arduous legacy workflows. An example of this opportunity lies in hardware procurement, where engineering teams face significant bottlenecks and time-consuming workflows in order to deliver on research, development, and production needs.

The past five years have seen a surge in investment across defense, space, and deep tech, reaching $79 billion in 2023. However, a critical bottleneck in these sectors is the timely delivery of parts to engineers. Every delay causes numerous downstream effects, pushing back project timelines and forcing engineers to waste time sifting through email threads and spreadsheets to track the status of key components.

This lack of transparency leads to significant coordination issues, with teams often unaware of whose approval they need, when parts will arrive, or even who ordered what. The problem is widespread - the Williams Formula 1 team recently revealed that they rely on a cumbersome 20,000-part Excel spreadsheet to manage their procurement processes.

We're excited to lead the seed round in Forge, an AI-powered procurement management platform for hardware companies. Co-founded by Emir and Haris Sahmanovic, Forge was born out of Emir's firsthand experience with these challenges during his time as a propulsion engineer at Blue Origin and Stoke Space. He witnessed how procurement challenges caused weeks to months of delays and wasted countless hours of an engineer’s time each week.

Forge provides a consolidated, single source of truth for procurement across the entire company. By integrating with existing software systems and leveraging LLMs to ingest emails, purchase orders, and spreadsheets, Forge offers immediate visibility into order status, spending, and potential bottlenecks. The platform's flexible workflows adapt to each company's unique procurement processes, facilitating seamless collaboration between teams and vendors while eliminating the need for excessive meetings and scattered communication.

Forge's adaptable controls allow companies to define internal procurement policies and approval chains, promoting compliance and accountability. The platform integrates seamlessly with key business software, including ERP, accounting, messaging, and contract management systems, minimizing integration time for teams. Forge enables vendors to maintain existing workflows while providing teams with visibility into procurement processes.

We're thrilled to have partnered with Emir and Haris at Forge in their initial round of funding. Leading deep tech companies are already using Forge to manage their procurement processes, saving engineers hours of time and speeding up development timelines. We're excited about the massive opportunity to enable innovative hardware companies to move faster and more efficiently.