Stuttgart, Germany-based Makersite, a SaaS platform, announced on Tuesday that it has raised $18M in a Series A round of funding.
The round was led by Hitachi Ventures and Translink Capital, with participation from KOMPAS and Planet A.
Makersite says the capital injection will expand its supply chain analysis capabilities and drive customer acquisition. The announcement comes three weeks after the company signed a partnership with Autodesk, a product design software platform.
Founded in 2018 by Neil D’Souza, former CTO of Thinkstep, Makersite helps development and procurement teams in manufacturing companies solve complex challenges around their products and supply chains through AI, data, and apps.
The German company uses AI to map a company’s portfolio of products, suppliers, and manufacturing processes automatically against more than 140 material and supply chain databases to construct digital twins of each product. These digital twins include precise details about how the product is made, used, and disposed of.
It enables transparency and understanding of multiple factors, including environmental footprints, should-costing, and compliance risks. The company claims that its process is faster than any current approach.
The company claims to have witnessed strong, profitable revenue and customer growth in the last 12 months. In 2021, 8+ Million LCAs (Life-cycle assessments) were processed through the cloud platform. Makersite’s customer portfolio includes Microsoft, Lush, Cummins, and Vestas.
The company employs more than 30 employees across Europe, America, and Asia.
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