Data sharing solutions for the manufacturing sector got a boost with the announcement of Fractory’s £6.5m investment for its supply chain platform.
Based in Manchester, Fractory has developed a supply chain solution for the metalworking sector that helps automate the process of uploading CAD files, securing quotes from manufacturers as well arranging packaging and delivery.
The investment round was led by OTB Ventures with the company planning to use the funding to expand into the USA, Italy and France. Fractory also plans to use the funding to develop its platform.
Martin Vares, Founder and Managing Director of Fractory, said:
“We are thrilled to have raised our latest level of funding and partnering with great investors as we embark on our exciting next stage of growth. The investment will be put towards improving and expanding our services, both in terms of manufacturing capabilities and geography. Since starting operations in Manchester, Fractory has played a vital role in helping to digitise the UK’s metalworks industry, which we believe will be essential for its survival.”
Fractory’s platform points the way for manufacturers to realise the benefits of automation and data sharing. While the UK’s manufacturing sector has been battered in recent decades by under-investment and overseas competition, Fractory and other tech startups are helping the sector enter a new industrial paradigm.