Laserhub, a Stuttgart-based startup that helps industrial clients order metal materials on demand, has closed a Series A financing round. The full amount was not disclosed. Munich’s Acton Capital led the round, with participation from previous investors Project A and Point Nine in Berlin. Laserhub will use the capital to develop new markets in Europe.
The B2B startup is digitising the industrial procurement process, which co-founder Adrian Raidt says is “a mess” due to “manual, inefficient processes.”
“Customers simply upload the CAD files of their components to the platform. Our algorithm finds the best producer from the network based on the order parameters such as ‘material’ and ‘production technology’,” explains CTO Jonas Schweizer, also a co-founder. “Our producers also benefit because they receive well-prepared orders automatically without having to invest a single cent in acquisition. A great way to keep their machine park running at capacity.”
In addition to expanding geographically, the team plans to expand vertically, adding new manufacturing technologies such as tube laser cutting and CNC turning (which the startup claims is a €100 billion market in itself). “The new processes are already integrated in our platform,” explains founder Christoph Rößner. “Our clear goal is to be involved in every transaction for metal parts in the European market in the future.”
Founded in 2017, the company operates in Germany, Austria and France, serving about 3,500 customers right now. By adding new markets and services, the team aims to double that customer base by the end of this year.
Photo: co-founders Adrian Raidt, Christoph Roessner and Jonas Schweizer