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§ Private Profile · Stuttgart, Baden-Württemberg
SPARETECH is a technology company.
SPARETECH provides a SaaS platform for industrial spare parts management, processing and provisioning data for manufacturers. It leverages AI to digitize inventories, enabling automated identification and standardization. This technology helps manufacturing clients reduce MRO costs, prevent unplanned downtime, and optimize inventory through enhanced data transparency. The platform offers solutions spanning global search, automated bill of material checks, and data lifecycle management.
SPARETECH was founded in 2018 by Martin Weber, Dr. Lukas Biedermann, and Dennis Kolberg. The founders observed inefficient and opaque management of industrial spare parts data across manufacturing. Their insight led to creating a centralized platform that transforms fragmented data into a cohesive, actionable resource, streamlining critical spare parts processes for global enterprises.
Manufacturing companies globally employ SPARETECH's platform for comprehensive control over their spare parts ecosystems. Its solutions empower businesses to make informed decisions regarding procurement, inventory, and maintenance. SPARETECH envisions becoming the world’s leading software for industrial spare parts data processing, fostering an efficient and reliable experience across the global manufacturing supply chain.
SPARETECH has raised $17.0M across 2 funding rounds.
SPARETECH has raised $17.0M in total across 2 funding rounds.
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 | Status |
|---|---|---|---|---|
| Jun 1, 2023 | $11M Series A | Insight Partners | 468 Capital, 50 Partners, Andreessen Horowitz, E1 Ventures, General Catalyst, GingerBread Capital, Headline, Illuminate Ventures, Index Ventures, Innovation Endeavors, 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, Carsten Thoma, Christian Gaiser, Christian Reber, Frederik Pfisterer, Hans Langthaler | Announced |
| Oct 1, 2021 | $6M Seed | — | Andreessen Horowitz, E1 Ventures, General Catalyst, Headline, Index Ventures, Innovation Endeavors, Kima Ventures, Lightspeed Venture Partners, Motier Ventures, Promus Ventures, Quassar Capital, Sequoia Capital, Anjney Midha, Torsten Reil | Announced |
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 Insight Partners, 468 Capital, 50 Partners, Andreessen Horowitz, E1 Ventures, General Catalyst, GingerBread Capital, Headline (formerly e.ventures), Illuminate Ventures, Index Ventures, Innovation Endeavors, Kima Ventures.