Partful, a leader in manufacturing aftersales technology, has secured a £5m investment to enhance its platform.
- The funding, led by Northern Gritstone with participation from Par Equity and Blumberg Capital, aims to automate Partful’s 3D aftersales SaaS platform.
- This strategic investment will accelerate Partful’s growth in the expansive $640bn aftermarket sector.
- Partful’s platform enables OEMs to easily identify, order, and fit components, enhancing efficiency and reducing errors.
- The funding highlights the significant progress Partful has made since its inception, signalling further job creation in Manchester.
Partful, a prominent name in the manufacturing aftersales technology sector, has successfully obtained £5m in investment funding. This financial boost is designed to automate its innovative 3D aftersales SaaS platform. The investment round was led by Northern Gritstone, with notable participation from Par Equity and Blumberg Capital, marking a pivotal moment for Partful’s business expansion.
The funding aims to bring automation to Partful’s platform, a development that stands to significantly accelerate the company’s growth within the lucrative $640bn aftermarket industry. Partful offers an advanced platform that allows users to access interactive 3D models, which can explode to show each product’s individual components. This functionality simplifies the process for Original Equipment Manufacturers (OEMs) and their customers to identify and order required parts, alongside providing necessary work instructions.
With automation, OEMs will gain the ability to manage their processes entirely. The platform allows users to upload essential data, such as CAD files and Bills of Materials, as well as utilise their own knowledge to develop a comprehensive parts catalogue suitable for aftersales purposes. Automation not only enhances this creation process but also dramatically reduces the time required, enabling the generation of a 3D parts catalogue in hours rather than weeks.
Sam Burgess, CEO and co-founder of Partful, noted that the development of the platform’s next iteration is crucial for helping OEMs tackle existing challenges. He expressed excitement over having the support of Northern Gritstone, Par Equity, and Blumberg Capital, emphasising the importance of their backing in assisting OEMs to eliminate order errors and maximise revenues.
Northern Gritstone’s CEO, Duncan Johnson, expressed enthusiasm about supporting Partful, a dynamic tech company based in Manchester. He pointed out that Partful has already attracted significant OEM clients thanks to its groundbreaking technology and is poised to further grow its team in the north of England. Since its initial funding round in January 2022, Partful has amassed a total of £11.2m, with prominent customers including Maeving, Lear, Kolpak, Triangle Tube & Ideal Heating, and Allett Mowers.
Kolpak’s Director of Service, Jay Maiden, highlighted the practical benefits of Partful’s platform, mentioning its utility both for customers and internal teams. The software has empowered engineers to better visualise and manage the parts, indicating that the full potential of the platform is yet to be fully realised.
Partful’s £5m investment marks a significant milestone in advancing its operations and expanding its impact within the aftermarket sector.
