Synthavo is a Stuttgart-based startup that uses AI to automate spare part identification and reduce machine downtime. The company has raised €4 million in funding from Samaipata and Senovo to expand its operations across Europe and the US.
- Founded in 2019 by Sebastian Stöcklmeier, Alexander Illg, and Benedict Lindner, Synthavo develops AI-based technology to automate spare part identification and reduce machine downtime in the manufacturing industry.
- The solution uses synthetic CAD data for object detection, enabling spare parts to be identified from a simple photo, without the need for manual data generation.
- The platform employs a team of 15 and streamlines after-sales processes by allowing spare parts to be identified and ordered directly through a photo, with no additional apps or complex integrations required.
"Our AI technology unlocks efficiency and growth potential for the machinery industry, enabling manufacturers to independently, quickly, and accurately order spare parts around the clock," CEO of Synthavo, Sebastian Stöcklmeier, stated.
Details of the deal
- The funding round was led by Samaipata, an early-stage venture fund that invests in digital businesses with network effects across Europe, and Senovo, a Munich-based VC that focuses on early-stage B2B SaaS investments.
“Our investment in Synthavo represents our confidence to revolutionise spare parts and after-sales service in the manufacturing industry. This investment aligns with our strategy to back companies that drive efficiency and digitisation in traditional sectors," Partner at Samaipata, Luis Garay, commented.
- Synthavo will use the €4 million to expand its sales, engineering, and customer success teams, boosting operational capacity. The funding will also support European expansion and prepare for entry into the U.S. market.
