Northern Gritstone, the investment company focused on science and technology businesses in the North of England and chaired by Lord Jim O’Neill, has announced a £5 million Series A round into Manchester-based manufacturing aftersales technology solution provider, Partful, alongside co-investors Par Equity and US-based Blumberg Capital.
The investment will support the automation of Partful’s 3D SaaS platform and accelerate the company’s growth within the $640bn aftermarket sector.
The platform gives users access to interactive 3D models that explode to reveal each product’s individual components – making it easier for the customers and dealers of original equipment manufacturers (OEMs) to identify and order the components they need and access the work instructions needed to fit them.
The ability to self-serve means that users can upload their data – CAD files, Bill of Materials as well as their own tribal knowledge – to create a parts catalog for aftersales purposes. As well as making it even easier for OEMs to create interactive documents, automation also saves significant amounts of time. The enhanced platform makes it possible to create a 3D parts catalog in hours, rather than weeks.
The business already counts Maeving, Lear, Kolpak, Triangle Tube & Ideal Heating and Allett Mowers among its customer base.
Northern Gritstone is delighted to support Partful. This growing Manchester-based tech company has already won large OEM customers thanks to its technology and is set to create more jobs in its North of England team.
Duncan Johnson, CEO of Northern Gritstone
Part identification is the first step in finding the right parts. When teams don’t have the right tools and information, it can result in multiple back-and-forth emails and calls which is time-consuming, frustrating and often ends up with the wrong parts being ordered. Developing the next iteration of our platform is an important step in helping OEMs to overcome these challenges. Having the backing of Northern Gritstone, Par Equity and Blumberg Capital is vital in developing the next iteration of our platform and we are thrilled to have their support as we help the industry eradicate costly order errors, limit product downtime and maximise revenues.
Sam Burgess, Founder & CEO
We're passionate about backing innovative businesses capable of transforming entire industries — and Partful is a perfect example. Manchester is a key hub for innovation and an area where Par Equity continues to expand its presence, so we’re thrilled to partner once again with Northern Gritstone to support this Manchester-based business. Having initially invested in 2021, with a follow-on in 2023, we remain committed to backing Partful as they continue to lead the way in aftersales technology. With the launch of Partful 2.0, we’re excited to see its growing impact across the market in years to come.
Tom Croy, Investor at Par Equity
After sales is a multi-billion dollar global marketplace experiencing a digital evolution and we believe Partful is at the forefront of that transition. The Partful team has delivered real business value to OEMs. Our continued support emphasises the tremendous expansion opportunities ahead, especially in the US which is core to our goal of broader international adoption and innovation.
Stanton Green, Investor at Blumberg Capital
