Tunisian startup, SeekMake, recently secured an investment of 500,000 euros (USD 539,000). This funding was obtained through a three-part deal after a year of negotiations
Lafayette Group, a leading European private equity firm with shares in numerous European manufacturing enterprises, is the investor behind this 500,000-euro funding. This investment is notable for its financial magnitude and Lafayette Group’s inaugural support for a Tunisian or any foreign startup.
This significant investment aims to propel SeekMake’s global growth. SeekMake has a varied clientele in Tunisia, the U.S., and Australia. With this capital boost, the firm is targeting new markets, especially in France and Germany, which offer potent avenues for collaborations with crucial clients and allies. Additionally, as part of its growth strategy, SeekMake has launched a branch in Estonia.
Reasons for Investment
Lafayette Group’s choice to funnel 500,000 euros into SeekMake stems from several persuasive factors. Firstly, SeekMake has showcased an impressive performance in the digital manufacturing sector, emerging as a top contender with over 10,000 users and manufacturers worldwide. Highlighting its success, the startup has sold over 30,000 prototypes and components, teamed up with 72 manufacturers, and built a vast fabricator network across 40 nations.
Lafayette Group’s funding underscores its acknowledgment of SeekMake’s distinct role in simplifying the manufacturing workflow. SeekMake’s digital manufacturing platform connects industrial producers with final consumers, cutting costs and hastening parts production. This business model resonates with the ongoing shifts in the manufacturing industry, positioning SeekMake as a desirable investment candidate.
A Look at SeekMake
Established in 2018 by the tech-savvy innovator Adel Ayari, SeekMake has made a significant mark in digital manufacturing. As a digital manufacturing platform, SeekMake aids in swiftly and safely bringing ideas, projects, and prototypes to life. The startup bridges the gap between industrial producers and end users, streamlining the production process, reducing costs, and ensuring parts are produced in just days.
SeekMake presents diverse manufacturing services, from CNC machining and sheet metal work to 3D printing, laser cutting, and engraving. The startup emphasizes a broad selection of materials on durability, resilience, and affordability. SeekMake has hit numerous benchmarks throughout its existence, such as garnering a global user and manufacturer community exceeding 10,000, collaborating with 72 manufacturers, and expanding its reach to 40 countries.
SeekMake’s success is evident in its rapid team growth, ballooning from just four members to over 30 in eight months. Its key affiliations, like its designation as a Tunisian startup under the Startup Act in 2019 and its association with The Dot in 2021, have boosted its trajectory. Importantly, being ranked by Startup Insights as one of the top 5 worldwide startups in “Distributed Manufacturing” highlights SeekMake’s industry significance and promise.
SeekMake’s dedication to teamwork shines through its collaborations with Tunisian startups like Kumulus and Expensya. Its role in bringing its prototypes and products to life reflects its passion for nurturing local innovation. In a significant milestone, SeekMake partnered with TELNET and Polymath Company in 2021, crucially contributing to prototyping Tunisia’s inaugural satellite.
SeekMake is currently proactively partnering with startups from Tunisia and abroad, assisting in crafting their prototypes. A notable collaboration with Designers Junior Enterprise has paved the way for the debut of a global 3D model marketplace called Cybermake. co. Operated in Tunisia, this platform epitomizes SeekMake’s visionary mindset and commitment to propelling global innovation.