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London Tech Week

Engineering Intelligence startup Spread snaps $16M in Series A funding

SPREAD founders
Image credits: SPREAD

SPREAD, a startup based in Berlin that provides Engineering Intelligence solutions for complex mechatronic products, has raised $16 million in a Series A funding round. The investment was led by HV Capital, a German venture capital firm that has previously backed successful companies such as KoRo and Isar Aerospace. Cavalry Ventures, an existing investor, also participated in the funding round.

The round saw participation from angel investors – Dylan Field, Figma Co-Founder & CEO, the founders of logistics unicorn Sennder, and Summit Partners founder Walter Kortschak.

The German startup will use the funds to develop the platform’s capabilities and expand to new markets. It will focus on scaling its early successes outside of automotive to new markets. The company will develop the platform’s capabilities and expand the reach of its Engineering Intelligence Network.

Mechatronic products are complex devices that combine mechanical, electronic, and computer engineering technologies to improve functionality and performance. Examples of mechatronic products include robots, automated manufacturing equipment, medical devices, automotive systems, and aerospace systems. These products rely on advanced sensors, actuators, control systems, and software to operate in a precise, automated, and often autonomous manner. A mechatronic product can perform complex tasks reliably, efficiently, and accurately.

“SPREAD’s mission is to make product information easily accessible & actionable for everybody,” said Robert Göbel, SPREAD Managing Director and co-founder. ”We’re honored to have HV Capital as a partner on our side. Their experience will help us reach new heights on our growth journey.”

“Our Engineering Intelligence Network is the key to understand how a product functions as a whole. Engineers benefit massively from this bigger picture,” said Philipp Noll, Co-Founder and Managing Director at SPREAD. “We give them their time back, so they can solve complex challenges faster than before.”

Dylan Field, Co-Founder & CEO of Figma and one of the investors, democratised access to design and recently made headlines with the biggest exit in B2B SaaS ever. “SPREAD will be the source of truth for complex physical products. This is a huge opportunity and I’m excited to be involved!” said Dylan Field, Co-Founder & CEO of Figma.

“SPREAD’s Engineering Intelligence Network is leading the shift in how products are designed, produced, and repaired. All German automakers are already benefitting from SPREAD, and the pull from international players across industries is stunning to observe,” explained Felix Klühr, Partner at HV Capital.

“Complex physical products need to get smarter and more sustainable. The current software landscape is a major bottleneck for embracing the future. SPREAD combines existing data across engineering domains to create unprecedented insights that drive magnitudes of improvement across the whole product lifecycle,” said Martin Janicki, Partner at Cavalry Ventures and early investor in SPREAD.

Democratises engineering knowledge

In 2019, Robert Göbel and Philipp Noll co-founded SPREAD to develop an Engineering Intelligence Network to combine all separate information sources into a single software solution. This solution aims to help engineering teams gain an objective understanding of ultra-complex systems such as cars, aircraft, and machines.

The company has already developed use cases to tackle various specific engineering challenges ranging from development to manufacturing and maintenance. Its solution has assisted clients including Mercedes, VW, and Infineon to expedite development cycles, increase quality, eliminate inefficiencies amounting to millions of dollars, and reduce their environmental footprint.

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