Fractory, an industrial tech company, has recently announced a new funding round of £4.2 million. Leading this round is Kvanted, an early-stage investment firm that focuses on supporting companies building industrial technologies in Northern Europe. Other notable participants include Superhero Capital, OTB Ventures, Trind Ventures, United Angels VC, Startup Wise Guys, and Verve Ventures, who have backed Fractory since its establishment in 2017.
The added capital will be used to expand Fractory in established markets and territories, primarily in the UK, where the company aims to become an “irreplaceable” partner for its growing client base. This will be achieved by increasing its capabilities and capacities to handle more metal fabrication businesses within its supplier network. Fractory currently employs 70 individuals and ranked 32nd in the Financial Times’ list of Europe’s 1,000 fastest-growing companies in 2023.
Fractory’s co-founder and CEO, Martin Vares, lauded Kvanted for understanding the company’s vision and offering longer investment cycles to align with the lengthier development cycles in industrial tech. Kvanted also acts as an industry connector, bringing innovative technology providers together with traditional industrial corporations through its broad industry experience and unique networks. Kvanted’s founding partner, Axel Ahlström, believes that the tie-up with Fractory is the best possible strategic partnership for their company as it aims to accelerate industrial innovation by connecting industrial technology start-ups with established corporations.
In conclusion, Fractory’s strategic partnership with Kvanted opens up untapped potential in the industrial sector with an aim to accelerate industrial innovation. The said partnership aims to boost Fractory’s growth in the industry by building a wider client base.