About SPARETECH
SPARETECH is a company based in Stuttgart (Germany) founded in 2018 by Lukas Biedermann and Martin Weber.. SPARETECH has raised $16.72 million across 2 funding rounds from investors including Insight Partners, Headline and Christian Gaiser. SPARETECH offers products and services including Global Spare Parts Search, Automated BOM Check, and Data Lifecycle Management. SPARETECH operates in a competitive market with competitors including Verusen, MARKT PILOT, synthavo, Intellinet System and Engora, among others.
- Headquarter Stuttgart, Germany
- Founders Lukas Biedermann, Martin Weber
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Sectors
Industrial Goods & Manufacturing
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Email
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Phone
*********
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Website
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Social
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- Legal Name Sparetech Gmbh
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$16.72 M (USD)
in 2 rounds
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Latest Funding Round
$10.82 M (USD), Series A
Jun 15, 2023
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Investors
Insight Partners
& 9 more
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Employee Count
Employee Count
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Products & Services of SPARETECH
SPARETECH offers a comprehensive portfolio of products and services, including Global Spare Parts Search, Automated BOM Check, and Data Lifecycle Management. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Enables efficient searching of spare parts using free text and images.
Matches spare parts lists against masters to detect duplicates.
Handles data updates and discontinuations for spare parts.
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Funding Insights of SPARETECH
SPARETECH has successfully raised a total of $16.72M across 2 strategic funding rounds. The most recent funding activity was a Series A round of $10.82 million completed in June 2023. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 2
- Last Round Series A — $10.8M
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First Round
First Round
(20 Sep 2021)
- Investors Count 10
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jun, 2023 | Amount | Series A - SPARETECH | Valuation | Insight Partners | |
| Sep, 2021 | Amount | Seed - SPARETECH | Valuation | Headline |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in SPARETECH
SPARETECH has secured backing from 10 investors, including venture fund and angel investors. Prominent investors backing the company include Insight Partners, Headline and Christian Gaiser. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Investment firm scaling software and technology companies from early to late stages.
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Founded Year | Domain | Location | |
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Investments are made in early-stage tech startups across multiple sectors.
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Founded Year | Domain | Location | |
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CG
Christian Gaiser |
Angel investor and advisor, focused on tech startups, based in India.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by SPARETECH
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - SPARETECH
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Sparetech Comparisons
Competitors of SPARETECH
SPARETECH operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Verusen, MARKT PILOT, synthavo, Intellinet System and Engora, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
AI-enabled platform for enterprise material and inventory management is provided.
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| domain | founded_year | HQ Location |
Automated spare parts pricing software is offered to machine manufacturers.
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| domain | founded_year | HQ Location |
Machine parts are identified via AI-powered mobile applications.
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| domain | founded_year | HQ Location |
Offers SaaS software for OEM aftermarket parts, service, and warranty management.
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| domain | founded_year | HQ Location |
An AI-powered platform for industrial sourcing and manufacturing supply chain management.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Frequently Asked Questions about SPARETECH
When was SPARETECH founded?
SPARETECH was founded in 2018 and raised its 1st funding round 3 years after it was founded.
Where is SPARETECH located?
SPARETECH is headquartered in Stuttgart, Germany. It is registered at Stuttgart, Baden-wurttemberg, Germany.
Who is the current CEO of SPARETECH?
Martin Weber is the current CEO of SPARETECH. They have also founded this company.
Is SPARETECH a funded company?
SPARETECH is a funded company, having raised a total of $16.72M across 2 funding rounds to date. The company's 1st funding round was a Seed of $5.9M, raised on Sep 20, 2021.
What does SPARETECH do?
Provider of spare parts management software solutions. It automates and simplifies spare parts processes to manage inventory, costs, and emissions. The software offers features such as global spare parts search, automated bill of materials checks, data lifecycle management, and digital workflow solutions. It helps maintainers improve efficiency, purchasers lower costs, and suppliers increase direct sales by providing a reliable digital data platform for accurate and up-to-date product information. The platform facilitates the creation of new materials.
Who are the top competitors of SPARETECH?
SPARETECH's top competitors include Verusen, MARKT PILOT and synthavo.
What products or services does SPARETECH offer?
SPARETECH offers Global Spare Parts Search, Automated BOM Check, and Data Lifecycle Management.
Who are SPARETECH's investors?
SPARETECH has 10 investors. Key investors include Insight Partners, Headline, Christian Gaiser, Carsten Thoma, and Christian Reber.