A Lancashire tech start-up has raised £150k of investment as it seeks to become the “Amazon of 3D printing.”
Blackpool-based Autentica says it has developed the very first blockchain-powered, AI-based digital supply chain for spare parts.
“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,” explained Irma Vitoriano, founder of Autentica.
“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 company has received £76k from private investors, which has been matched by a grant from Innovate UK,
The cash will be used to make 20 “key hires” and move from proof of concept to a full launch by March 2022.
“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,” continued Vitoriano.
“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.”
The firm has already signed up 156 UK-based 3D printing companies, and 130 parts distributors in Chile, Singapore and Angola.