Partful's £5M Series A to Revolutionize 3D SaaS Market
Deal News | Dec 10, 2024 | UK Tech Funding
Manchester-based Partful, a software-as-a-service (SaaS) platform specializing in interactive 3D models for the aftermarket sector, has successfully raised £5 million in a Series A funding round. The round was spearheaded by Northern Gritstone, dedicated to supporting science and technology ventures in Northern England, and had participation from Par Equity and US-based Blumberg Capital. Partful plans to utilize the funds to advance the automation of its platform and drive expansion within the $640 billion aftermarket industry. The platform uniquely allows for the creation of 3D models that can 'explode' to show individual product components, simplifying part identification and reducing the inefficiencies of misordered parts. Partful, operating under the legal name Samson VTI UK Limited, reported a £6.5 million loss in its latest accounts, supported by 38 employees. The company, also backed by Seedrs and the British Business Bank's Future Fund, sees this funding as essential to develop the next iteration of their platform, overcoming OEM challenges in part identification.
Sectors
- Software-as-a-Service (SaaS)
- Aftermarket Industry
Geography
- United Kingdom – The article highlights a UK-based company, Partful, and its operations headquartered in Manchester.
- United States – US-based Blumberg Capital is one of the investors involved in the funding round.
Industry
- Software-as-a-Service (SaaS) – The article focuses on Partful, a SaaS company that provides interactive 3D modeling services.
- Aftermarket Industry – Partful's services target the aftermarket sector, an integral component of their business strategy and growth.
Financials
- £5 million – The amount raised by Partful in the Series A funding round.
- £6.5 million loss – The financial loss reported in Partful's most recent accounts.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Partful | Target Company | Company | A SaaS platform developing interactive 3D models for the aftermarket sector. |
| Northern Gritstone | Lead Investor | Company | An investment firm focused on supporting science and technology businesses in Northern England. |
| Par Equity | Co-Investor | Company | An investment company expanding its presence in Manchester and supporting Partful's growth. |
| Blumberg Capital | Co-Investor | Company | A US-based venture capital firm participating in Partful's Series A funding. |
| Sam Burgess | CEO and Co-Founder | People | The CEO and co-founder of Partful, responsible for the strategic vision and execution. |