SeekMake, a startup in Tunisia, just received 500,000 euros ($539,000) in investment. After a year of discussions, this funding was acquired through a three-part agreement.
This 500,000 euro finance was provided by Lafayette Group, a well-known European private equity group that owns shares in various European manufacturing companies. The size of the investment and Lafayette Group’s first-ever sponsorship of a Tunisian or other international company make it noteworthy.
The goal of this large investment is to accelerate SeekMake’s global expansion. In Australia, the US, and Tunisia, SeekMake has a wide range of customers. With this additional funding, the company plans to expand into other areas, particularly those in France and Germany, which present promising opportunities for working with important clients and partners. In addition, SeekMake opened a branch in Estonia as part of its expansion plan.
The decision of Lafayette Group to invest 500,000 euros in SeekMake is motivated by a number of strong arguments. First off, SeekMake has shown to be a strong contender in the digital manufacturing space, attracting more than 10,000 users and manufacturers globally. The firm has sold over 30,000 prototypes and components, partnered with 72 manufacturers, and established a broad fabricator network across 40 countries, all of which serve as examples of its success.
The support from Lafayette Group demonstrates the company’s recognition of SeekMake’s unique contribution to streamlining the production workflow. The digital manufacturing platform from SeekMake links industrial manufacturers with end users, lowering costs and accelerating the creation of parts. The continuous changes in the manufacturing sector are in line with this business strategy, making SeekMake an attractive investment prospect.
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A Review of SeekMake
SeekMake, which was founded in 2018 by tech-savvy entrepreneur Adel Ayari, has had a huge impact on digital manufacturing. SeekMake is a platform for digital manufacturing that helps people quickly and safely realise their ideas, projects, and prototypes. By optimising the manufacturing process, cutting costs, and guaranteeing that parts are created in just days, the business fills the gap between industrial manufacturers and end consumers.
SeekMake offers a variety of manufacturing services, including 3D printing, laser cutting, engraving, and CNC machining for sheet metal and other materials. The startup places a strong emphasis on a wide range of materials that are resilient, long-lasting, and inexpensive. Over the course of its existence, SeekMake has achieved a number of milestones, including amassing a global user and manufacturer community of over 10,000, working with 72 manufacturers, and extending its reach to 40 countries.
The quick expansion of SeekMake’s workforce, which went from four to over 30 in just eight months, is a clear indication of the company’s success. Its development has been accelerated by important affiliations, such as being recognised as a Tunisian startup under the Startup Act in 2019 and joining The Dot in 2021. A significant ranking by Startup Insights as one of the top 5 global startups in “Distributed Manufacturing” demonstrates the importance and potential of the field for SeekMake.
SeekMake’s commitment to cooperation is seen in its partnerships with Tunisian companies like Kumulus and Expensya. Its involvement in bringing its goods and prototypes to market demonstrates its dedication to supporting regional innovation. In 2021, SeekMake collaborated with TELNET and Polymath Company, marking a critical milestone that was important to the prototyping of Tunisia’s first satellite.
Presently, SeekMake actively collaborates with companies from Tunisia and overseas to help them create their prototypes. A major partnership with Designers Junior Enterprise set the foundation for the launch of Cybermake. co, a global 3D model marketplace. This platform, which is run in Tunisia, embodies SeekMake’s forward-thinking attitude and dedication to fostering global innovation.