SPARETECH raises €5 million funding to keep german manufacturing competitive amidst supply chain instability

SPARETECH raises €5 million funding to keep german manufacturing competitive amidst supply chain instability

  • € 58 billion in spare parts inventory lays as dead capital in German factories. 
  • Ex-Porsche engineers build a digital "data highway" for efficient spare parts management and COVID-19 resilient supply chains.
  • Bosch increases efficiency by 50%. Volkswagen and Airbus are customers. 
  • € 5 million seed investment led by technology fund Headline and leading digital experts Christian Miele, Carsten Thoma, Christian Gaiser, Josef Brunner, Gisbert Rühl, Stefan Groß-Selbeck, etc. 

SPARETECH, the company digitizing industrial spare part management, announced today the closing of €5 million in seed funding.

The round comes after achieving triple-digit growth since its inception in 2019. Customers include Germany's automotive legends Porsche and Volkswagen, aerospace giant Airbus, consumer goods manufacturer WEPA Hygiene Products and aluminum processor Speira.

The round comes after achieving triple-digit growth since its inception in 2019. Customers include Germany's automotive legends Porsche and Volkswagen, aerospace giant Airbus, consumer goods manufacturer WEPA Hygiene Products and aluminum processor Speira.

Ahead of Tesla and Chinese competitors

Founded by experienced ex-Porsche engineers Martin Weber and Dr. Lukas Biedermann, Sparetech allows large-scale manufacturers to strengthen their supply chains by finding the right part when needed, automatically processing inventory, and avoid disruption related shortages.  

"COVID-19 exposed the vulnerability of traditional manufacturing strategies and supply chains almost everywhere. Manufacturing companies worldwide are under enormous competitive pressure to reduce or eliminate their dependence on risky supply sources. At the same time, constant availability of spare parts is required to avoid production downtimes. Yet large inventories are expensive and tie up capital. Sparetech solves the problem," says CCO Biedermann. 

"We see ourselves as a technological enabler of the Smart Factory, where spare parts are purchased at the time they are actually needed," explains CEO Weber.
"Our vision is to make Germany and Europe more competitive on the global logistics markets by creating the world's leading availability platform for industrial spare parts. This helps our automotive customers, for example, not to lose out to Tesla or Chinese competition."

"Sparetech is a prime example of innovative work born from practical experience for practical use. Digitizing our industrial processes is essential to keep Germany and Europe competitive. The team proves how Made in Germany also works digitally" says Christian Miele, Partner at venture capital firm Headline and President of the German Startups Association.

Sparetech is on track to triple sales again in 2021 despite the ongoing pandemic and chip crisis. Tech-Entrepreneur and relayr CEO Josef Brunner describes it as "One of the most promising technology companies for the German industry. The software model is universal and can be operated both as a stand-alone solution or fully integrated into the business processes.”

The founders & managing directors (Dr. Lukas Biedermann left, Martin Weber right)

Raising €5 M from major European tech investors and B2B experts

In addition to Christian Miele (Headline) and Josef Brunner (CEO relayr) the new investors include Christian Reber (CEO Pitch, former CEO Wunderlist), Dr. Stefan Groß-Selbeck (Managing Director BCG Digital Ventures, former VP eBay & CEO XING), Gisbert Rühl (former CEO Klöckner &Co.), Christoph Keese (CEO Axel Springer hy), and Dr. Martin Böhringer (CEO Staffbase). The team is completed by existing investors Christian Gaiser, known for kaufDA and numa, Carsten Thoma, known as co-founder of Hybris (sold to SAP) and early-stage investor of the startup unicorns Celonis and Mirakl, Frederik Pfisterer, co-founder of Mambu, Ingo Weber (founder of FAS AG), as well as Plug and Play Tech Center, investor from Silicon Valley and active in Germany with STARTUP AUTOBAHN .

About Headline  

Headline is a Venture Capital firm actively on the ground in 7 cities around the world. We invest across categories and geographies, leading rounds at every stage. Once we commit to a team, we go to ends of the earth to support the success of them.

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