SPARETECH is a technology company.
SPARETECH has raised $17.0M across 2 funding rounds.
SPARETECH has raised $17.0M in total across 2 funding rounds.
SPARETECH is a Stuttgart-based SaaS company founded in 2018 that builds an AI-powered platform for digitizing and optimizing spare parts management in manufacturing.[1][2] It serves maintenance and procurement teams at large manufacturers like Brose by matching spare part lists against a comprehensive database using machine learning, standardizing data for ERP systems, identifying duplicates (up to 15% in inventories), obsolete parts (17%), and enabling sourcing within or outside production networks to cut MRO costs, reduce waste, and boost machine uptime.[1][2][4] With $16.82M raised (latest Series A of €10M/~$10.91M in 2023 led by Insight Partners), the company has grown to ~65 employees across offices in Germany and Chicago, driving efficiency gains like 50%+ in data processing and mid-six-figure procurement savings for customers.[1][3][4]
SPARETECH was founded in 2018 in Stuttgart, Germany, by former Porsche engineers Martin Weber and Dr. Lukas Biedermann (now CCO), who identified massive inefficiencies in factory spare parts inventories during their automotive experience—such as widespread duplicates and obsolete stock hindering production.[1][2] The idea emerged from their hands-on frustration with manual, error-prone processes in high-stakes manufacturing environments, leading them to develop proprietary matching technology and the industry's largest spare parts catalog.[1][2] Early traction came from validating this with Porsche networks, evolving into a full enterprise MRO software platform that has scaled internationally post-Series A funding in 2023.[1]
(Note: A separate U.S.-based sparetech.com distributor for semiconductor parts appears unrelated, focusing on physical sales rather than software.[6])
SPARETECH rides the industrial digitalization wave, addressing supply chain disruptions, climate-driven zero-waste mandates, and Industry 4.0 trends by transforming fragmented spare parts data into AI actionable intelligence for manufacturing's $1T+ MRO market.[2] Timing is ideal amid post-pandemic shortages and sustainability pressures, where 15-17% inventory waste equates to billions in losses—SPARETECH's platform fosters a "sharing economy" for resources, influencing ecosystems by enabling cross-company collaboration and reducing global emissions via optimized logistics.[1][2] It empowers giants like automotive suppliers to standardize operations across sites, accelerating the shift from siloed stockpiling to predictive, network-based procurement.[4]
SPARETECH is poised for hypergrowth by expanding its Series A-fueled international push (e.g., U.S. presence) into adjacent sectors like mobility and semiconductors, capitalizing on AI advancements for even smarter matching and predictive inventory.[1][2][5] Trends like generative AI for data enrichment, regulatory zero-waste mandates, and reshoring will amplify demand, potentially doubling revenue from $13.7M amid a Mosaic Score dip signaling market volatility.[1][3] Its engineer-founders' edge could evolve it into the de facto spare parts OS for manufacturing, tying back to that core insight: digitizing the overlooked inventory chaos that still cripples factories worldwide.[1][2]
SPARETECH has raised $17.0M in total across 2 funding rounds.
SPARETECH's investors include 468 Capital, 50 Partners, Andreessen Horowitz, E1 Ventures, General Catalyst, GingerBread Capital, Headline (formerly e.ventures), Illuminate Ventures, Index Ventures, Innovation Endeavors, Insight Partners, Kima Ventures.
SPARETECH has raised $17.0M across 2 funding rounds. Most recently, it raised $11.0M Series A in June 2023.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Jun 1, 2023 | $11.0M Series A | 468 Capital, 50 Partners, Andreessen Horowitz, E1 Ventures, General Catalyst, GingerBread Capital, Headline (formerly e.ventures), Illuminate Ventures, Index Ventures, Innovation Endeavors, Insight Partners, Kima Ventures, La Famiglia, Lightspeed Venture Partners, Motier Ventures, Plaid, Promus Ventures, Quassar Capital, Sequoia Capital, Venga!Labs, Y Combinator, Anjney Midha, Didier Valet, Gabriel Jarrosson, Paul Forster, Pierre Lavaux, Torsten Reil | |
| Oct 1, 2021 | $6.0M Seed | Andreessen Horowitz, E1 Ventures, General Catalyst, Headline (formerly e.ventures), Index Ventures, Innovation Endeavors, Kima Ventures, Lightspeed Venture Partners, Motier Ventures, Promus Ventures, Quassar Capital, Sequoia Capital, Anjney Midha, Torsten Reil |