Pillow A few months ago, a funding round of $ 6 million was collected by point nine (about $ 6.5 million at current exchange rates). The French start today is announcing the founder round. Product Life Cycle Management (PLM) software is developing for the manufacture of industrial companies operating in Eltic Aerospace, automotive, electronics, luxury and more.
When you think about aerospace companies, the first names are the names that come to mind are giant companies like Airbus and Boeing. But these large industrial companies cooperate with the galaxy of small and large suppliers working on components, parts and special processes. And the same is the case with automotive, medical device manufacturers and other industries.
These companies – top 1 % manufacturers – are already using PLM software developed by Autodesk, District System, PTC or Siemens. But industrial companies often do not have the right tools to handle their tasks and improve their workflows.
“The PLM market is one with four major players who have 90 % of the market … These are huge companies that were initially CAD [computer-aided design] Software and then twenty years ago, had developed PLM for large companies, such as Airbus and PSA, which have design offices with several thousand people and very complex requirements.
He added, “As a result, these are high performance solutions, but they are very complicated to use, and there are very heavy and timely demand for deployment, and most of them are based on solutions.”
As you have guessed, the elite takes a very different approach. The company is fully focused on following product life cycle management and sauce (service as software) playbook. It serves large SMEs and industrial companies in the mid -market.
The record said, “We have a solution that is very intuitive and easy to use, which means that our customers can be adopted on a large scale. And we have found a solution that is in a hurry to deploy in just a few months, so they can get back on investment after a quarter.”
Electric products work as the only source of truth for data, CAD files, details sheets, quality requirements and more. It is connected with the enterprise tools that these companies are already using, including CAD and ERP software.
In addition to improving internal workflows, the electrical can also be used as a device to design the China Traceable Toll or with some components with other companies. The record said, a user of the Electric will be able to interact with his partners by sharing data with his users, but also with its suppliers, which will be a kind of supplier portal for sharing, a dedicated space on the platform. “
Since the company’s creation in 2019, the Electric Team has spent a lot of time preparing its platform before signing its first users. But now there are 5,000 people who use electrick as part of their work in 10 different countries.
Most consumers are the industrial companies of the middle market, but Electric has also signed some big names, such as Safran, Hutchinson and Lucy Group.
In addition to Point nine, the Entroper Industrial and Angeline West have also invested in the beginning. Many business angels have also participated in it, such as Carman Thoma (Salonis), Emmanuel Martin Shaw (Bubbler), Marcus Eunt (Tulia) and Stephen Alburn (consultation on archery strategies).