Makersite, a Stuttgart-based SaaS startup that helps manufacturing enterprises solve complex challenges around their products and supply chains, raised $18 million in Series A funding.
The round was led by Hitachi Ventures and Translink Capital, with participation from KOMPAS and Planet A.
The German startup will use the funds to expand its supply chain analysis capabilities and drive customer acquisition.
Neil D'Souza, the founder and CEO of Makersite, says, "We put decades of experience into solving a problem that has eluded the manufacturing industry until now. In an increasingly complex environment, how do you make better products faster? One of the answers we found is to simplify and decentralize decision-making by providing accurate, instantaneous, and actionable multi-criteria data on sustainability, cost, and risk implications of decisions. We were humbled by the industry response and have grown profitably, purely by word of mouth, until now. With this investment, we will increase delivery and go-to-market capacities to continue delivering our cutting-edge solution to many more customers who have transformed into the new normal of sustainable business."
Makersite customer portfolio includes Microsoft, Lush, Cummins, and Vestas. In 2021, 8+ Million LCAs (Life-cycle assessments) were processed through the cloud platform.
Currently, the company employs more than 30 employees across Europe, America, and Asia.
Company: Makersite GmbH
Raised: $18.0M
Round: Series A
Funding Month: October 2022
Lead Investors: Hitachi Ventures and Translink Capital
Additional Investors: KOMPAS and Planet A
Company Website: https://makersite.io/
Software Category: Product Data Management Software
About the Company: Founded in 2018 by Neil D'Souzato, Makersite is a product data management software for the manufacturing industry. Makersite uses artificial intelligence and graph technology to build digital twins of manufactured products. Through cutting-edge technology, big data, and breakthrough algorithms, companies can track a product's emissions footprint throughout the supply chain, including Scope 3 emissions, bringing carbon accounting to the next level. Makersite empowers companies to manage product sustainability, cost, and compliance. Makersite's AI automatically maps a company's portfolio of products, suppliers, and manufacturing processes against more than 140 material and supply chain databases. Makersite's mission is to help manufacturing companies make better decisions and create safer, more sustainable products through data-driven analysis.
Source: https://techfundingnews.com/makersite-ropes-in-18m-to-help-manufacturers-make-ai-based-decisions-in-supply-chain/