Synthavo, a Stuttgart-based startup focused on the spare parts and after-sales service space, has secured a €4 million seed investment to expand their team, improve operational capacity, and further develop their AI-powered platform.
The funding round was co-led by Samaipata, the pan-European venture capital fund specializing in digital businesses with network effects, and Senovo, who back European B2B software founders with US ambitions.
The funding round also included participation from active business angels such as Rainer Hundsdörfer, Tobias Rieker (Market-Pilot) and Oliver Bendig.
Sebastian Stöcklmeier, CEO of Synthavo: “Procurement and management of spare parts remain highly manual and time-consuming in manufacturing today. Our AI technology unlocks efficiency and growth potential for the machinery industry, enabling manufacturers to independently, quickly, and accurately order spare parts around the clock. This innovation strengthens customer loyalty, drives part sales, and boosts technician efficiency, marking a game-changing advancement for the industrial sector.”
Synthavo, founded in 2021 by Sebastian Stöcklmeier, Alexander Illg, and Benedict Lindner, is a leading AI-powered solution provider in the spare parts and after-sales service space, dedicated to innovating the way in which machine manufacturers and their clients manage spare parts.
Synthavo has grown to 15 employees since its founding and counts notable industry figures such as Schmitz Cargobull and ASMPT among its clients, underscoring its commitment to establishing itself as the premier global assistant for spare parts management.
According to Synthavo, their AI-powered platform maximises spare parts sales, enhances operational efficiency, and reduces machine downtime, supporting a seamless and efficient manufacturing experience.
It also seeks to enable machine manufacturers to optimise spare parts sales, streamline the ordering process, and significantly reduce machine downtime. The platform allows anyone with a smartphone to identify and “order spare parts in under two seconds“, fostering uninterrupted industrial operations and maximising productivity.
The new funding will primarily support Synthavo’s strategic hiring, bolstering its sales, engineering, and customer success teams to enhance operational capacity and service excellence.
Leveraging this momentum, Synthavo is ready to accelerate its European expansion and lay the groundwork for entry into the U.S. market.
Luis Garay, Partner at Samaipata said: “Our investment in Synthavo represents our confidence to revolutionise spare parts and after-sales service in the manufacturing industry. With a team that combines expertise in industrial manufacturing and software development, Synthavo is setting new standards through their AI-powered visual identification technology. This investment aligns with our strategy to back companies that drive efficiency and digitisation in traditional sectors.”
Mona Gindler, Partner at Senovo added: “The Synthavo team has a very deep understanding of their customer segment and is highly respected within the industry. With their technical edge, we see significant potential to unlock untapped opportunities in spare parts management for machine manufacturers and look forward to being part of that journey.”
Read the orginal article: https://www.eu-startups.com/2024/12/order-spare-parts-in-under-two-seconds-synthavo-secures-e4-million-to-develop-their-spare-parts-platform/
