Berlin-based CNC24, a precision parts procurement platform, announced on Thursday that it has raised €8.25M in a Series A round of funding. Future Industry Ventures led the round along with venture capitalist Coparion.
The German company says it will use the funds to accelerate product development, ramp up sales organisation and recruit new employees. The company is also planning to expand into new markets.
CNC24: What you need to know
Sourcing industrial components can be costly and time-intensive, especially for small and medium-sized enterprises (SMEs) and deep tech ventures. The key to successful sourcing lies in finding the right partner who can provide the right mix of quality and price for your needs.
Founded in 2019 by Willi Ruopp and Marlon Gerat, CNC24 is on a mission to solve this challenge for the manufacturing industry through an AI-powered B2B marketplace platform.