This article outlines the recent successful Series A funding round of £5m secured by Partful, a Manchester-based software company.
- Led by Northern Gritstone, with participation from Par Equity and Blumberg Capital, the investment focuses on innovative 3D technology.
- The funding will enhance Partful’s model-building capabilities and support growth in the aftermarket sector, valued at £640bn.
- Investment Director Tom Croy emphasized Manchester’s role as an innovation hub and the commitment to backing Partful.
- CEO Sam Burgess highlighted the importance of improved tools for efficient part identification to reduce ordering errors.
Partful, a Manchester-based software company, has successfully raised £5m in a Series A funding round. This funding round was led by Northern Gritstone, an investment company chaired by Lord Jim O’Neill, and included contributions from Par Equity and US-based Blumberg Capital.
The raised capital is intended to advance the company’s 3D interactive model-building platform, focusing on automation, and to drive growth within the lucrative $640bn aftermarket sector. Partful’s innovative platform allows models to explode, showing each product’s individual components, which is crucial for precise part identification.
Investment Director at Par Equity, Tom Croy, emphasized the significance of Manchester as a key innovation hub. He expressed pride in collaborating with Northern Gritstone and reiterated Par Equity’s commitment to Partful.
Having initially invested in 2021, followed by a subsequent round in 2023, Par Equity continues to support Partful’s journey in leading aftersales technology. This continued backing reflects confidence in Partful’s strategic direction and potential for growth in their sector.
Sam Burgess, CEO and co-founder of Partful, stated that effective part identification is crucial. He explained that the lack of appropriate tools and information can lead to inefficiencies, such as unnecessary email exchanges and incorrect orders. The upcoming iteration of Partful’s platform aims to address these challenges for original equipment manufacturers (OEMs).
Partful’s successful funding round signifies a promising step in its strategic growth within the aftermarket sector.
