German software company 3D Spark has announced it has closed a €1.2M seed round of funding.
This round was led by Fraunhofer Technologietransfer-Fonds (FTTF) with additional investments from Discovery CFO UG, and Innovationsstarter Fonds Hamburg (IFH). 3D Spark says, despite the challenging market conditions, the round was oversubscribed, successfully reaching the targeted funding amount.
“The fresh funds enable us to accelerate the development of our innovative platform and to live up to our claim ‘The best manufacturing process for every component, while at the same time, we can guarantee long-term planning security for our industrial partners and customers,” says Ruben Meuth, CEO and Co-founder of 3D Spark.
Automated manufacturing, and reduced costs and emissions
Founded in 2021 by Fritz Lange, Ruben Meuth, and Arnd Struve, 3D Spark leverages AI technology to assist companies in identifying optimal manufacturing processes and automating the generation of quotations and requests for quotations (RFQ).
3D Spark says it “aims for a future” where manufacturing components are characterized by ease, cost-effectiveness, and sustainability, with reduced waste of materials, manual labor, and CO2 emissions. To achieve this vision, 3D Spark utilizes AI technology to assist companies in identifying the most appropriate manufacturing processes. Consequently, companies can make improved manufacturing decisions, resulting in substantial cost savings, reduced lead times, and significant reductions in carbon emissions.
The software provided by 3D Spark automates 90% of the manual quoting process, significantly reducing the time needed. This enables sales teams to dedicate more time to address customer issues and generate revenue. The integrated manufacturability check and cost calculation features help with make-or-buy decisions. Consequently, around 80% of the RFQs previously created by purchasing can be eliminated, resulting in reduced administrative burden for both procurement and sales departments.
According to the company, notable industrial companies such as Alstom, Deutsche Bahn, ZF Friedrichshafen, and the renowned “Miniatur Wunderland,” Germany’s tourist attraction, are already counted among the licensed customers of 3D Spark.
“This round of financing gives us the opportunity to concentrate fully on realizing our vision and thus to enable more economical and ecological production. We are therefore investing a large part of the funds in customer-oriented product development,” adds Dr.-Ing. Fritz Lange, CEO and Co-founder of 3D Spark.
AI-powered manufacturing platforms raise millions
Berlin-based industrial parts sourcing platform MakerVerse secured €9.4 million ($10 million USD) in a Series A funding round, with venture capital firm 9.5 Ventures leading the investment. All initial seed investors, including Siemens Energy and ZEISS, also participated in the funding round. MakerVerse established early last year, offers a platform that integrates AI-generated instant quotes with a trusted global supply chain for advanced manufacturing technologies such as additive manufacturing and CNC machining. Initially targeting the German market, the startup expanded its customer base to include a wide range of international clients.
Oqton, an artificial intelligence (AI) software manufacturing company, raised $40 million in a Series A funding round. The company intended to utilize the funds to advance the development of its AI-powered automated software platform and strengthen its commercial alliances within the additive manufacturing, robotic welding, and CNC machining sectors. The funding round was spearheaded by B2B software investor Fortino Capitol. Joining them were regional Flemish investment fund PMV and global engineering group Sandvik. Oqton’s founding team also participated in the financing round, alongside angel investors such as former Autodesk CEO Carl Bass, Dries Buytaert from Drupal and Acquia, and Peter Mercelis from Layerwise.
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Featured image shows 3D Spark Founders. Image via 3D Spark.
