Partful, a Manchester-based 3D SaaS platform, has successfully secured a £5m Series A investment.
- The funding round was led by Northern Gritstone, focusing on science and tech businesses in Northern England.
- Co-investors include Par Equity and Blumberg Capital from the US.
- Funds will be utilised to automate Partful’s platform and expand within the $640bn aftermarket sector.
- CEO Sam Burgess aims to enhance OEM support by advancing platform capabilities.
Manchester-based Partful, known for its innovative 3D models that unveil intricate product components, has successfully raised £5 million in a Series A funding round. This funding will enable Partful to enhance platform automation and accelerate growth in the expansive $640 billion aftermarket sector.
The funding round was spearheaded by Northern Gritstone, a key player in science and technology investments in Northern England, under the chairmanship of Lord Jim O’Neill. Additional support came from Par Equity and US-based Blumberg Capital, reinforcing the growing interest in technological advancements.
Tom Croy, Investment Director at Par Equity, articulated their commitment: “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 been involved with Partful since 2021, Par Equity’s continued investment signifies strong confidence in Partful’s potential to lead aftersales technology.
Sam Burgess, CEO and co-founder, highlighted the importance of their platform’s advancement: “Part identification is the first step in finding the right parts. When teams don’t have the right tools and information, it can result in multiple back-and-forth emails and calls which is time-consuming, frustrating and often ends up with the wrong parts being ordered. Developing the next iteration of our platform is an important step in helping OEMs to overcome these challenges.”
Partful, the trading name of Samson VTI UK Limited, currently employs 38 staff and has posted a £6.5 million loss, reflecting the ambitious growth and development phase it is undergoing. Previous financial support has come from Seedrs and the Future Fund, indicating sustained investor interest despite current financial challenges.
Partful’s recent funding showcases its potential to revolutionise the aftermarket sector through advanced 3D technology.
