Partful Secures £5 Million Funding for Growth
On December 10, 2024, Northern Gritstone made a significant announcement regarding a £5 million Series A funding round for Partful, an innovative aftersales technology platform based in Manchester. Northern Gritstone, chaired by Lord Jim O’Neill, focuses on investing in science and technology-driven businesses in the North of England. This investment was made alongside co-investors Par Equity and Blumberg Capital, showcasing a strong collaboration aimed at enhancing Partful’s capabilities in the dynamic and lucrative aftermarket sector, which is worth an impressive $640 billion. With this funding, Partful aims to automate its 3D software-as-a-service (SaaS) platform, significantly advancing its expansion in the rapidly evolving technology landscape.
Partful offers a unique platform that provides users with the ability to access interactive 3D models of various products.
These models dynamically display individual components, simplifying the process for customers and dealers of original equipment manufacturers (OEMs) to identify, order, and fit essential parts. The platform also empowers users to upload their own data, such as CAD files and Bill of Materials, to create personalized parts catalogs for aftersales purposes. This flexibility not only streamlines the workflow for OEMs but also drastically reduces the time required to compile a 3D parts catalog—from weeks to just a few hours—enhancing efficiency and productivity in the manufacturing realm.
The customer base for Partful already includes well-known companies like Maeving, Lear, Kolpak, Triangle Tube, Ideal Heating, and Allett Mowers, demonstrating the platform's growing reputation in the industry. Sam Burgess, CEO and co-founder of Partful, emphasized the importance of this investment, stating that developing the next iteration of their platform is crucial for helping OEMs tackle common challenges related to part identification. With the backing from Northern Gritstone, Par Equity, and Blumberg Capital, Partful is poised for remarkable growth and innovation, with ambitions to not only eradicate costly order errors but also enhance revenue streams for manufacturers. The joint commitment from these investment firms not only reflects confidence in Partful’s technology but also highlights their belief in the transformative potential of aftersales solutions in the global marketplace.
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