Parts supply disrupter set for spring launch
- 13 December 2021
- Posted by: Alan Feldberg
- Category: News
Tech start-up Autentica has raised over £150,000 of investment ahead of its launch into the spare parts market next spring.
Autentica has developed the first blockchain-powered, AI-based digital supply chain for spare parts and – with private investors matching a £76,000 Innovate UK grant – is set to move from proof-of-concept to full launch by March 2022.
Following three years of intensive R&D, Blackpool-based Autentica’s 3D printing marketplace will sell certified digital design files of spare parts – increasing efficiencies in the traditional supply chain by up to 90%.
And, to support ambitious growth targets – which include £5m turnover by the end of 2023 – Autentica plans to make 20 key hires across sales, software development, customer service, and technical support.
Irma Vitoriano, founder of Autentica, said: “I’ve been working towards this moment for the past 11 years – but my vision relied on investment from those who could take us from concept to reality. We’re now in a financial position where we can build the platform quickly and hire colleagues that can help to bring the product to market – a major step in our efforts to shake up a vastly antiquated spare parts arena.
“The beauty of Autentica is that we can connect parts designers with customers and 3D printers across all sectors and continents – and that needs to be the direction of travel for industry. By eliminating the need for a warehouse to store products, our on-demand 3D printing system optimises logistics, speeds up delivery times, and – crucially, as the world aims to reach Net Zero – reduces the CO2 emissions generated through traditional practices.”
Autentica already has 156 UK-based 3D printing companies preparing to come online and 130 parts distributors signed up across Chile, Singapore, and Angola.