Autentica secures £150,000 funding, set to recruit 20

Blackpool-based tech start-up Autentica has raised more than £150,000 investment as it bids bring 3D printing and additive manufacturing to the spare parts sector.

Autentica has developed the first blockchain-powered, AI-based digital supply chain for spare parts and – with private investors matching a £76,000 Innovate UK grant – is set to move from proof-of-concept to full launch by March 2022.

Following three years of intensive R&D, the company's 3D printing marketplace will sell certified digital design files of spare parts, increasing efficiencies in the traditional supply chain by up to 90 per cent.

And, to support ambitious growth targets, which include £5m turnover by the end of 2023, Autentica plans to make 20 key hires across sales, software development, customer service, and technical support.

Irma Vitoriano, founder of Autentica, said: "I’ve been working towards this moment for the past 11 years – but my vision relied on investment from those who could take us from concept to reality.

"We’re now in a financial position where we can build the platform quickly and hire colleagues that can help to bring the product to market – a major step in our efforts to shake up a vastly antiquated spare parts arena.

“The beauty of Autentica is that we can connect parts designers with customers and 3D printers across all sectors and continents – and that needs to be the direction of travel for industry. By eliminating the need for a warehouse to store products, our on-demand 3D printing system optimises logistics, speeds up delivery times, and – crucially, as the world aims to reach Net Zero – reduces the CO2 emissions generated through traditional practices."

Servicing a wide range of sectors including automotive, medical, and utilities, Autentica already has 156 UK-based 3D printing companies preparing to come online, 130 parts distributors signed up across Chile, Singapore, and Angola.

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