SPREAD, a Berlin, Germany-based engineering intelligence startup for complex mechatronic products, announced that it raised $16 million in Series A funding.
The round was led by HV Capital, with participation from existing investors Cavalry Ventures and angel investors Dylan Field – Figma Co-Founder and CEO, and the founders of logistics unicorn Sennder, among others.
The funding will go to developing the platform’s capabilities and expanding into new markets.
“Our Engineering Intelligence Network is the key to understanding how a product functions as a whole. Engineers benefit massively from this bigger picture,” says Philipp Noll, Co-Founder and Managing Director at SPREAD. “We give them their time back, so they can solve complex challenges faster than before.”
SPREAD’s intelligent algorithms understand the interplay of the mechanics, electronics, and software domains. Combining this with information about a product’s requirements, functions, logic, and physics gives engineers unprecedented insights about a product that can scale along with its complexity.
Company: SPREAD GmbH
Raised: $16.0M
Round: Series A
Funding Month: May 2023
Lead Investors: HV Capital
Additional Investors: Cavalry Ventures and Dylan Field
Company Website: https://www.spread.ai/
Software Category: Engineering Intelligence Solutions
About the Company: Founded by Philipp Noll and Robert Göbel in 2019, SPREAD makes product data accessible, intuitive, and actionable. SPREAD’s Engineering Intelligence Network combines all separate information sources into a single software solution. The platform has already been used by companies to tackle various specific engineering challenges, from development to manufacturing and maintenance. With use cases from R&D to Aftersales, SPREAD is helping customers like Mercedes, VW, and Infineon to accelerate development cycles, increase quality, eliminate millions in inefficiencies, and reduce their environmental footprint.
Source: https://www.spread.ai/news/press-releases/series-a