Founded in 2020 by Sebastian Freund, Robert Hilmer and Michael Neuhauser, PartSpace has built a software platform that connects to existing IT systems and uses artificial intelligence to analyse millions of technical drawings and purchasing records. The product, PartSpace AI, uncovers savings potential by making market prices transparent and recommending concrete actions such as price negotiations, alternative suppliers or part standardisation. By digitising a procurement segment that has so far seen little innovation, the solution promises rapid, measurable cost reductions and greater transparency for industrial customers. The company’s latest €13 million financing gives it significant resources to refine its AI and accelerate expansion. The founders have retained majority ownership, signalling continued strategic control. Looking ahead, PartSpace plans to roll out its technology internationally and scale both customer acquisition and product capabilities. No specific revenue or user numbers were disclosed in the article.

Total raised

$15M

Funding rounds

1

Latest round

Equity

Latest activity

Oct 2025