The additional capital is used for expansion in existing markets, mainly in the United Kingdom and Scandinavia. The main focus is on increasing the offered production capacity and volume in order to strengthen existing customer relationships and increase the value proposition to the growing customer base.<\/p>\n
Fractory started in 2017 on the Estonian market and has at least doubled its turnover year after year, and in many ways through large customers. “This year we received our first order, which was over 2 million euros. While we were initially approached because of the platform’s automation, speed and convenience, more and more customers are looking for quality and delivery reliability through our network of partners. They do not need to validate or audit production partners themselves, as we take this responsibility for them. The new investment will help us in growing exactly this type of customers, in order to serve them faster, more efficiently and more comprehensively<\/em>,” explained co-founder and CEO of Fractory, Martin Vares.<\/p>\n
The \u20ac4.8m round is led by a brand-new early-stage investment company, Kvanted<\/a>, whose focus is on companies building industrial technologies in Northern Europe.<\/p>\n
Other participants in the funding round include all those venture capital groups, angel investors and entrepreneurs who have bought into Fractory since it launched in 2017, amongst them Superhero Capital, OTB Ventures, Trind Ventures, United Angels VC, Startup Wise Guys and Verve Ventures.<\/p>\n
\u201cThat existing investors are increasing their interest is a sign of approval<\/em>,\u201d says Martin Vares, Fractory CEO. \u201cVC\u2019s, like Superhero Capital, continuing to back us is a vote of confidence in our considerable potential. Also, that entrepreneurs like Taavi Kotka are with us again in this round is important<\/em>.\u201d<\/p>\n
Taavi Kotka, the former CIO of the Estonian government and well-known software developer and angel investor, who has been an investor in Fractory since the very start, says: \u201cFractory is experiencing meaningful momentum and it\u2019s easy to see where it is going with its important manufacturing solution. I believe in the transformative impact Fractory holds for the industrial sector. And I believe in the founders, in the wider team and their vision. And now in cooperation with Kvanted \u2013 a specialist investor with a strong focus on industrial efficiencies \u2013 Fractory is well-positioned to grow further, faster<\/em>.\u201d<\/p>\n
Fractory has been trading since 2017 and was founded by mechanical engineer-turned-entrepreneur Martin Vares along with Joosep Merelaht and Rein Torm. Company is connecting engineers with production capacity. Customers use this Fractory for series manufacturing, project manufacturing and prototyping. Fractory operates mainly in Scandinavia and the United Kingdom. The company employs 64 people, and the turnover in 2022 was nearly 15 million euros.<\/p>\n","protected":false},"excerpt":{"rendered":"
Fractory, the Estonian Startup Tech Business Focused on Manufacturing, Raised 4.8 Million Euros With the Help of Strategic Investors The additional capital is used for expansion in existing markets, mainly […]<\/p>\n","protected":false},"author":29,"featured_media":22205,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[6520],"tags":[],"yst_prominent_words":[133,932,934,935,1670,1703,2291,3471,5037,5655],"class_list":["post-22204","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-company-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/fractory.com\/wp-json\/wp\/v2\/posts\/22204","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/fractory.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fractory.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fractory.com\/wp-json\/wp\/v2\/users\/29"}],"replies":[{"embeddable":true,"href":"https:\/\/fractory.com\/wp-json\/wp\/v2\/comments?post=22204"}],"version-history":[{"count":1,"href":"https:\/\/fractory.com\/wp-json\/wp\/v2\/posts\/22204\/revisions"}],"predecessor-version":[{"id":22212,"href":"https:\/\/fractory.com\/wp-json\/wp\/v2\/posts\/22204\/revisions\/22212"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/fractory.com\/wp-json\/wp\/v2\/media\/22205"}],"wp:attachment":[{"href":"https:\/\/fractory.com\/wp-json\/wp\/v2\/media?parent=22204"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fractory.com\/wp-json\/wp\/v2\/categories?post=22204"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fractory.com\/wp-json\/wp\/v2\/tags?post=22204"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/fractory.com\/wp-json\/wp\/v2\/yst_prominent_words?post=22204"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}