Partful, a Manchester-based 3D SaaS platform, raises £5m in Series A funding to fuel growth and enhance automation within the aftermarket sector.
- The funding round was led by Northern Gritstone, chaired by Lord Jim O’Neill, with participation from Par Equity and Blumberg Capital.
- The investment will support Partful’s mission to streamline OEM part identification, reducing inefficiencies in the supply chain.
- Partful, trading as Samson VTI UK Limited, plans to develop the next iteration of its platform to better serve OEMs.
- The company, currently employing 38 staff, had previously been backed by Seedrs and the British Business Bank’s Future Fund.
Partful, a provider of software solutions designed to create interactive 3D models, has successfully garnered £5m in a Series A funding round. This round, spearheaded by Northern Gritstone, is set to drive the company’s growth in the expansive $640bn aftermarket sector by advancing the automation of its platform aimed at improving efficiencies within the OEM space. Manchester’s strategic position as a hub of innovation has bolstered Partful’s ambitions, with investment backing from prominent players like Par Equity and US-based Blumberg Capital. Lord Jim O’Neill, chairing Northern Gritstone, has been a pivotal figure in consolidating support for this technologically driven initiative.
The investment round underscores the continued confidence of early backers such as Par Equity, which had previously invested in 2021 and renewed its support in 2023. Par Equity’s Investment Director, Tom Croy, emphasized the synergy with Northern Gritstone as they collaboratively bolster Partful’s innovative solutions in the post-sales technology domain. This partnership highlights the critical support networks available within Manchester for tech-forward enterprises seeking to make a mark internationally.
CEO and co-founder Sam Burgess reiterated the company’s commitment to refining their platform, focusing on overcoming prevalent industry challenges like inaccurate part identification. He noted that inadequate tools and information often lead to prolonged communication chains and incorrect orders which Partful aims to resolve by enhancing its software offerings.
Despite previous financial challenges, including a reported loss of £6.5m, Partful continues to progress with strategic investments, leveraging prior support from platforms like Seedrs and government-backed initiatives such as the British Business Bank’s Future Fund. These efforts not only signify trust in Partful’s capacity to transform the aftermarket sector but also reflect a resilient approach to navigating financial hurdles.
The company’s intent to advance their 3D platform illustrates a proactive approach to innovation, seeking to facilitate better decision-making aids for OEMs. This investment is a testament to Partful’s endeavours to expand its influence in a competitive landscape, underscoring its trajectory towards becoming a leading provider of technological solutions.
Partful’s successful funding round marks a significant step in enhancing its platform and market positioning within the aftermarket sector.
