Partful, a Manchester-based startup specialising in interactive 3D technology, has raised €6 million to accelerate the automation of its 3D aftersales SaaS platform for original equipment manufacturers (OEMs).
The funding round was led by Northern Gritstone, with participation from Par Equity and US-based Blumberg Capital. This latest investment brings Partful’s total funding to €13.5 million since receiving €2.8 million in July 2023 and its first seed round in January 2022.
“‘Developing the next iteration of our platform is an important step in helping OEMs to overcome these challenges,” said Sam Burgess, CEO and co-founder of Partful. “Having the backing of Northern Gritstone, Par Equity and Blumberg Capital is vital and we are thrilled to have their backing as we help OEMs support customers, eradicate costly order errors and maximise revenues.’”
Since its inception in 2017, Partful has focused on creating user-friendly, accessible solutions to streamline aftersales operations for OEMs. Available in 71 languages, the platform seeks to reduces costly order errors, improves manufacturer revenues, and limit product downtime by enabling faster parts fulfilment and repair processes.
The platform transforms how OEMs manage aftersales by offering interactive 3D models that allow customers and dealers to explore ‘exploded’ views of products, identify components, and access installation instructions. By introducing automation, Partful empowers OEMs to independently create 3D parts catalogues using their CAD files, Bills of Materials, and internal knowledge. This innovation reduces the time required to produce detailed catalogues from weeks to mere hours, improving efficiency and minimising errors.
According to Partful, the manufacturing aftersales market is valued at €607 billion globally, and Partful’s technology is well-positioned to engage in its digital transformation. The platform has already been adopted by OEM customers such as Lotus, Lear, Kolpak, and Ideal Heating.
Duncan Johnson, CEO of Northern Gritstone, said: “Northern Gritstone is delighted to support Partful. This growing Manchester-based tech company has already won large OEM customers thanks to its technology and is set to create more jobs in its North of England team.”
Partful’s investors highlighted the startup’s potential to transform the aftersales landscape further. “At Par Equity, we’re passionate about backing innovative businesses capable of transforming entire industries — and Partful is a perfect example. Manchester is a key hub for innovation and an area where Par Equity continues to expand its presence, so we’re thrilled to partner once again with Northern Gritstone to support this Manchester-based business. Having initially invested in 2021, with a follow-on in 2023, we remain committed to backing Partful as they continue to lead the way in aftersales technology,” said Tom Croy, Investment Director at Par Equity. “With the launch of Partful 2.0, we’re excited to see its growing impact across the market in years to come.”
Blumberg Capital also emphasised Partful’s global growth prospects. “After sales is a multi-billion dollar global marketplace experiencing a digital evolution and we believe Partful is at the forefront of that transition,” said Stanton Green, senior director at Blumberg Capital. “The Partful team has delivered real business value to OEMs. Our continued support emphasises the tremendous expansion opportunities ahead, especially in the US which is core to our goal of broader international adoption and innovation.”
With this latest funding, Partful is poised to further revolutionise the manufacturing aftersales industry, providing innovative tools to enhance efficiency and customer satisfaction across the globe.
Read the orginal article: https://www.eu-startups.com/2024/12/partfuls-3d-models-explode-and-so-does-its-funding-with-e6-million-secured/
