We produce spare parts on-demand for home appliances everywhere in the world thanks to 3D printing.
Business overview
| Location | Paris, France |
|---|---|
| Social media | |
| Website | spare-parts-3d.com |
| Sectors | Home & Personal Mixed Digital/Non-Digital B2B |
| Company number | 841469265 |
| Incorporation date | 30 Jun 2016 |
Investment summary
Idea
Introduction
Spare Parts 3D is a start-up providing manufacturers, especially in the home appliance sector, with services that enable on-demand and distributed production of spare parts using 3D Printing.
Thanks to our cloud platform DigiPART, we support the digitalization of inventories and enable on-demand & distributed production using 3D printing. We leverage our international network of providers to ensure local manufacturing and quick delivery.
Our solutions allow manufacturers to increase their customers' satisfaction by increasing the availability of spare parts thanks to 3D printing while having increased control of cost and quality over the production.
Intended impact
By producing parts on-demand and locally thanks to 3D printing, we enable our costumers to:
- Reduce their obsolescence problems
- Cover their risk of shortages due to supply chain hazards
- Reduce significantly their inventory cost
Substantial accomplishments to date
-Jul 2018 - Launch of part production ramp-up with Whirlpool.
-Apr 2018 - Achieved qualification with Whirlpool.
-March 2018 - 10,000 parts produced.
-Feb 2018 - Extention of production network to metal.
-Jan 2018 - Presentation of estimated €650K potential savings annually solving supply shortages and obsolete parts for Whirlpool on an EMEA scope.
-Dec 2017 - Deployment of DigiPART for parts analysis.
-Dec 2017 - Integration of 2 new production technologies: SLA and MJF.
-Nov 2017 - Production network reaches 50 locations.
-Oct 2017 - Launch of pilot project with Vestel.
-Oct 2017 - Launch of pilot project with Whirlpool.
-Aug 2017 - Production network reaches 20 locations.
-July 2017 - Opening of Bridge round - €160k funded so far.
-May 2017 - Emre Ozturk - Ex Head of Dishwasher R&D and Innovation of Arcelik - joins Spare Parts 3D as advisor and business developer for Turkish Market.
-Mar 2017 - Initial R&D achieved - Qualified machines, materials and production process. Starting the production network development.
-Nov 2016 - Launch of pilot project with Electrolux.
-July 2016 - Launch of pilot project with Astelav, home appliance spare parts reseller.
-June 2016 - Seed round - €200K.
-May 2016 - Silvio Corrias - Ex Director at Indesit - joins Spare Parts 3D as advisor.
-Jan 2016 - First collaborators hired.
-Jan 2016 - Founders investment - 30K€.
-Jun 2015 - Incorporation.
Monetisation strategy
We aim to take between 30% to 100% margin over every part production.
Use of proceeds
The budget is expected to be spent as follows:
51% or 101K€ for accelerating business development incl:
-Hiring of one full-time business developer in France in Jan 2019 to develop new home appliances customers, particularly aiming for the likes of BSH, SEB, De'Longhi.
-CEO's salary.
-Travel to customers in Europe.
25% or 50K€ as working capital to finance growth.
18% or 36K€ to support continuous R&D efforts, incl:.
-R&D activies of Paul de Misouard (25% of his salary).
-new material qualification (Purchasing of raw materials, 3D printed samples subcontracting, testings by third parties).
-new machine qualification (3D printed sample subcontracting, testing by third parties).
6% or 12K€ to consolidate and further expand our marketing and communication efforts building our company reputation, incl:.
-One intern full time salary.
-Website improvement and SEO.
Market
Target market
Home Appliance Manufacturers such as Electrolux, Whirlpool, SEB, etc.
It is a competitive industry which we see is characterised by:
-low margin & high competition.
-limited product differentiation.
-wide catalogue of products and parts (hundred thousands).
In this frame, building a strong brand equity and ensuring best after-sales service is the only way to stand out. Spare parts availability becomes a key challenge to overcome.
Up to 10% unavailability upon demand and 30% annual inventory depreciation; these are some of the difficulties faced by home appliance manufacturers on spares.
Characteristics of target market
We estimate the home appliance 3D printable parts market size to be valued at 450M$.
Assumptions taken:
-After-sales services and spare parts revenues represent 7% of home appliance global sales (Electrolux annual report 2009), spare parts are 4% of it, equivalent to 9 B$ annually.
-5% of the value of these spare parts is estimated to be suitable for 3D Printing within the coming 3 years, taking into account available 3D printing technologies both in term of cost and technical requirements. This has been demonstrated through analysis of over 100K parts of inventories for several large home appliance manufacturers.
Marketing strategy
Spare Parts 3D has established a focused marketing strategy to connect, get interest and sell to specific positions on of targetted companies.
Over the last two years, we were connected with professionals from the leading home appliances groups managing aftersales, spare parts, innovation, purchasing and product management.
We have a list of 30 top priority customers with over 400 people targetted. We've communicated regularly with them via direct calls and messages but also through our social presence on LinkedIn, Twitter by publishing content in our blog.
For each pilot project that we launch, we request our customers to allow us to write about our collaboration in a press release.
Competition strategy
Today plastic home appliance spare parts are mainly produced by injection molding. Injection is our primary competitor.
If we have no issue to demonstrate the value added of 3D printing for spare parts, it is a challenge to have large corporation to adopt new technology and process in their existing workflow.
We have direct competitors, developing on-demand and distributed additive manufacturing services:.
-Startups: Xometry, Ivaldi, Dimanex and AdditiveNow.
-And large groups: GEAdditive, Siemens additive manufacturing network.
Among them only Ivaldi and Dimanex focuses particularly on spare parts.
In terms of sectors targeted, we see that:
-GE and Siemens focus primarily on Aerospace, Energy and industrial machineries.
-Dimanex focuses on industrial machineries.
-Ivaldi focuses on maritime.
-Xometry and Additivenow are generalist.
We understand that Spare Parts 3D is the only company providing end-to-end 3D printing solutions to the Home appliance sector.
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