Fundraising Achievements: $5.5 Million Secured to Support Hardware Teams in Data Centralization Efforts
Parter, an innovative AI-based company, has announced a successful $5.5 million seed funding round. This investment will be utilised to develop and advance Parter's AI platform, specifically designed to support hardware teams.
The platform is set to revolutionise the way hardware teams manage component data and risks during product development. It accomplishes this by reading datasheets, tracking product change notifications (PCNs), monitoring part lifecycles, and flagging potential risks. This allows hardware teams to focus more on design and manufacturing, making critical decisions backed by real-time data and AI-powered insights, spanning from R&D to manufacturing stages.
The funding round was led by StageOne Ventures, with participation from Zenda Capital, Mercer Ventures, and several angel investors, including former Sequoia partner Shmil Levy, executives from Cisco, Ariel Maislos, and founders of Avalor, Datorama, Epsagon, and Innoviz.
Tal Slobodkin, managing partner at StageOne Ventures, praised Parter for solving a massive, overlooked problem and applying AI where it's desperately needed, turning operational chaos into strategic clarity. Asaf Israelit, co-founder and CEO of Parter, shared similar sentiments, stating that the platform aims to bring clarity to hardware companies by connecting data, teams, and decisions, enabling them to streamline their operations and move with confidence.
The funding will support Parter's product development, go-to-market expansion, and U.S. growth. Hila Arditi, VP Supply Chain at RH Group, expressed that Parter has already transformed how they manage sourcing and quoting, automating manual steps and simplifying their procurement process. This has allowed them to respond faster to customer needs and navigate the complex supply chain landscape with confidence.
In a survey of over 500 manufacturing leaders conducted in 2024, it was revealed that 98% face ongoing issues with disconnected and incomplete data. Hardware manufacturing is under strain due to supply chain instability and fragmented systems. Parter's platform is designed to consolidate data from various sources into a single organized system and use AI to provide real-time insights and recommendations, addressing these challenges head-on.
According to Tal Slobodkin, Parter is a game-changer for hardware companies, particularly in the context of the timely need to bring hardware manufacturing to the U.S. or nearshore. The company officially launches out of stealth with this funding, poised to make a significant impact in the hardware manufacturing industry.
The funding secured by Parter, led by StageOne Ventures, will be used to further develop their AI platform, specifically designed to revolutionize how hardware teams manage component data and risks during product development by incorporating artificial intelligence. This platform, implemented with technology, aims to bring clarity to hardware companies, connecting data, teams, and decisions, enabling them to streamline operations and make informed, strategic decisions, from R&D to manufacturing stages.
