SeekMake, a Tunisian-based startup, announced that it has recently secured a significant investment totaling 500,000 euros (equivalent to 539,000 USD) from Lafayette group for global expansion.
Lafayette group is an European private equity firm with stakes in major manufacturing companies across the continent. This is its first venture into supporting a Tunisian or foreign startup or company
Established in 2018 by Adel Ayari and Zino Adidi, SeekMake serves as a bridge between users and manufacturers across 40 nations. SeekMake facilitates swift prototyping and expedites the delivery of end products. It provides a diverse spectrum of manufacturing solutions, encompassing CNC machining, sheet metal fabrication, 3D printing, laser cutting, and engraving.
Already present in Tunisia, the United States, and Australia, the new funding will fuel SeekMake’s expansion plans on an international scale, particularly France and Germany. According to the company, these countries present valuable opportunities for collaboration with major clients and partners. Furthermore, SeekMake has established a subsidiary in Estonia as part of its expansion strategy.
Since inception, SeekMake has reached multiple notable achievements, such as building a community of over 10,000 users and manufacturers, establishing collaborative ties with 72 manufacturing entities, and extending its reach to encompass 40 different countries.
The startup’s achievements also encompass its impressive trajectory of growth, witnessing its team surge from a core of four members to a workforce exceeding 30 employees in the span of eight months. SeekMake’s strategic partnerships have played a significant role in its triumph, including its designation as a Tunisian startup under the Startup Act in 2019 and its affiliation with The Dot in 2021. Particularly noteworthy is SeekMake’s acknowledgment by Startup Insights, which ranks it among the top 5 global startups in the “Distributed Manufacturing” sector, a testament to its far-reaching influence and industry potential.
Lafayette reason for investing in SeekMake
Lafayette Group’s decision to invest 500,000 euros in SeekMake is driven by several compelling factors. Firstly, SeekMake has established itself as a prominent player in the digital manufacturing industry, boasting a global user and manufacturer base of over 10,000 and achieving remarkable sales of more than 30,000 prototypes and parts. The startup’s prowess is reinforced by its partnerships with 72 manufacturers.
Furthermore, Lafayette Group’s investment reflects its recognition of SeekMake’s distinctive position as an intermediary that optimizes the manufacturing process. SeekMake’s digital manufacturing platform effectively connects industrial manufacturers with end users, streamlining production and reducing costs. This value proposition aligns seamlessly with the evolving trends in the manufacturing sector, rendering SeekMake an appealing investment opportunity.
Additionally, Lafayette Group’s decision to support a Tunisian startup for the first time highlights SeekMake’s potential to be a trailblazer in the region’s startup ecosystem. This investment not only bolsters SeekMake’s growth aspirations but also showcases Lafayette Group’s confidence in the innovation and capabilities emanating from Tunisia’s entrepreneurial landscape.
