A Lancashire-based IT startup has acquired £150,000 in funding to become the “Amazon of 3D printing.”
Blackpool-based Autentica claims to have created the world’s first blockchain-powered, AI-based digital spare parts supply chain.
“I’ve been working towards this moment for the past 11 years – but my idea required investment from those who could bring us from concept to reality,” said Autentica creator Irma Vitoriano.
“We’re now in a financial position where we can swiftly create the platform and hire colleagues to assist in bringing the product to market – a huge milestone in our quest to shake up the vastly archaic spare parts industry.”
Private investors have contributed £76k, which has been matched by a grant from Innovate UK.
By March 2022, The funds will be utilized to make 20 “essential hires” and advance from proof of concept to full launch.
“The beauty of Autentica is that we can connect parts designers with customers and 3D printers across all industries and continents – and that needs to be the industry’s direction of travel,”
Vitoriano stated.”By eliminating the need for a warehouse to keep products,
our on-demand 3D printing method improves logistics, shortens delivery times, and, most importantly, cuts CO2 emissions caused by old techniques, which is critical as the world strives to achieve Net Zero.”
The company has already signed up 156 3D printing companies in the United Kingdom. as well as 130 parts distributors in Chile, Singapore, and Angola.
Source: Prolific North, Scribapar