B2B SaaS startup 3D Spark has closed an oversubscribed €1.2 million seed funding round in a second closing led by the Fraunhofer Technology Transfer Fund. The company’s AI automates the determination of the most suitable manufacturing process, the creation of quotations and the preparation of requests for quotations. Well-known licence customers such as Alstom, Deutsche Bahn and ZF Friedrichshafen underline the growth potential and market relevance of the software solution. beyourpilot founding consultant Felix Krieg has been providing the start-up with advice and support for over two years.
The B2B manufacturing and procurement SaaS startup 3D Spark has closed its seed round of €1.2 million in a second closing. Led by the Fraunhofer Technology Transfer Fund (FTTF), Discovery CFO UG invested alongside first closing investments from Innovationsstarter Fonds Hamburg (IFH) and FTTF. The round was oversubscribed despite the difficult market environment, so that the funding target was fully achieved, underlining the need and added value of the 3D Spark platform for the manufacturing and procurement landscape.
When it comes to manufacturing, sourcing and selling components, companies are constantly looking for cost-effective, fast and sustainable solutions. However, selecting the most appropriate manufacturing process requires extensive process knowledge and time-consuming manual analysis.
Increasing efficiency in procurement, distribution and manufacturing
3D Spark dreams of a world where manufacturing components is simple, cost-effective and sustainable, with a minimum of material waste, manual labour and CO2 emissions. That’s why 3D Spark uses artificial intelligence to enable companies to identify the most appropriate manufacturing processes and automate the creation of quotes and tenders. The result is better manufacturing decisions that lead to millions of dollars in cost savings and significant reductions in delivery times and CO2 emissions.
Specifically, 90 per cent of the time spent on manual quoting is automated by the software, giving sales ten times more time to solve real customer problems and generate revenue. In addition, the integrated feasibility check and cost calculation facilitates make-or-buy decisions. This eliminates the need for 80 per cent of RFQs previously created by Purchasing, minimising the administrative burden on both sides – Purchasing and Sales.
Successful use in the railway, automotive and manufacturing industries
Leading industrial companies such as Alstom, Deutsche Bahn, ZF Friedrichshafen as well as Germany’s No. 1 tourist attraction, the Miniatur Wunderland, are already among the licensed customers.
“The founding team of 3D Spark convinced us right from the start with their outstanding technical know-how and deep understanding of the 3D printing market. Their software already enables a large number of customers to quickly decide which 3D printing manufacturing process is the fastest and most efficient for their particular application – delivering significant and measurable customer value. With the successful completion of the funding round, the team is now in an excellent position to further refine its software and offer it to a wide range of new customers,” said Lucas Funk, IFH and Jörg Wamser, FTTF.
“This is an excellent opportunity to support an innovative startup and team. I am convinced that 3D Spark will be a successful company with a vision to revolutionise the world of manufacturing methods and processes,” says Jörg Fanger, Managing Director, Discovery CFO UG.
“The fresh funding will enable us to accelerate the development of our innovative platform and deliver on our claim of ‘The best manufacturing process for every part’, while ensuring long-term planning security for our industry partners and customers,” said Ruben Meuth, CEO and founder of 3D Spark.
“This round of funding gives us the opportunity to fully focus on realising our vision, enabling more economical and greener manufacturing. We are therefore investing a large part of the funds in customer-oriented product development,” adds Dr.-Ing. Fritz Lange, CEO and founder of 3D Spark.
About Fraunhofer Technology Transfer Fund (FTTF)
The Fraunhofer Technology Transfer Fund (FTTF) is an independent early-stage venture capital investor for young deep-tech companies from the Fraunhofer-Gesellschaft and the first fund of its kind in Germany. With a fund volume of 60 million euros, FTTF finances start-ups in very early stages and can invest up to 5 million euros per company. The FTTF is supported by the two fund investors Fraunhofer-Gesellschaft and European Investment Fund (EIF). Since its inception in 2019, FTTF has invested in more than 30 start-ups pursuing innovative business models based on a broad range of Fraunhofer technologies.
Contact: Jörg Wamser
Fraunhofer Technology Transfer Fund (FTTF) GmbH,
Kaufinger Str. 24, 80331 Munich, Germany
joerg.wamser@fttf.eu
About Innovationsstarter Fonds Hamburg GmbH
Innovationsstarter Fonds Hamburg GmbH invests venture capital in young, innovative companies in order to strengthen Hamburg’s start-up scene and promote the development of promising companies. The programme provides for open investments up to a maximum of 1 million euros per company. Investors in the fund are the Free and Hanseatic City of Hamburg and the European Regional Development Fund (ERDF) in equal parts. The fund is managed by IFB Innovationsstarter GmbH, a wholly owned subsidiary of the Investitions- und Förderbank in Hamburg.
Contact: Lucas Funk
IFB Innovationsstarter GmbH,
Besenbinderhof 31, 20097 Hamburg
funk@innovationsstarter.com
About Discovery CFO UG
Discovery CFO UG is a private equity company. Its business purpose is to invest in start-ups with high growth potential. It also offers interim CFO services and consulting.
More articles on 3D Spark:
Five questions for Ruben Meuth from 3D Spark: “We dream of production without waste”
3D Spark: Successful first financing round secures the next two years
