Osborne Clarke has advised Future Industry Ventures as lead investor as well as coparion in a first financing round for the precision parts procurement platform CNC24. The Berlin-based start-up thus gains a total of EUR 8.25 million in additional capital.
Sourcing industrial components from the right partner, at the right price and quality: This proves both costly and time intensive, especially for SMEs and deep tech ventures. CNC24, founded in 2019, aims to solve this challenge for the manufacturing industry by means of an AI-driven B2B marketplace platform: Through a fully digitized procurement process and a global supplier network, CNC24 guarantees free capacities, high material availability and on-time delivery of required components at all times. With this approach, the company has already generated an offer volume of over EUR 500 million after just three years.
But that’s just the beginning: According to CEO and Co-Founder Willi Ruopp, CNC24 aims to become the undisputed number one for precision parts in Europe. The now completed Series A financing round totalling EUR 8.25 million brings the start-up one step closer to its goal. The newly acquired capital will be used not only to further develop the product, ramp up sales organization and recruit new employees. This is in addition to expanding into new markets.
For the lead investor Future Industry Ventures, advised by Osborne Clarke, this is a convincing approach.
In increasingly volatile markets struck by supply chain risks, CNC24 addresses a major thorn in the side of the manufacturing industry. We are impressed by CNC24’s strategy of mixing a platform approach with top grade quality assurance, ultimately saving truly substantial resources to their customers.
As a pan-European venture capital fund whose stated goal is to provide capital to technology companies in the high-tech industry 4.0, CNC24 fits seamlessly into the portfolio.
Investor coparion – also advised by Osborne Clarke in this financing round – is also eager to support CNC24. Stefan Martinez, Investment Manager at coparion, emphasizes: “The strong focus on high-quality and intensive customer support in the right place clearly sets CNC24 apart from the competition. This can also be seen in the great customer feedback and strong sales growth.”
The team advising Future Industry Ventures and coparion, under the partner responsibility of Robin Eyben (Venture Capital / M&A) and lead by Maximilian Vocke, consisted of Dana Alpar, Joanna Chudzinski (all Corporate / Venture Capital), Jan Marco Aatz (Merger Clearance), Robert Briske, Dr Marius Tillwich (both IP), Julia Kaufmann, Dr Florian Eisenmenger, Kerstin Grimhardt (all Data Protection / IT), Sarah Grigo, Dr Philipp Stein (both Commercial), Kamissa Kruse, Susanna Lorenz (both Labor Law) and Dr Jens Wrede (Tax).