Partly Raises $37.0M Series A

Partly, a company focused on connecting the world's automotive parts, has secured $37.0 million in new investment. The funding round underscores investor confidence in Partly's mission to revolutionize the auto parts industry through technology. The company is building the first foundational AI model specifically for the automotive parts sector, aiming to bring significant efficiencies to the collision parts supply chain, from procurement to order management.

The company's approach leverages a team of automotive veterans and world-class engineers with diverse backgrounds from prominent organizations such as Rocket Lab, Microsoft, F1, Apple, and Intel. This collective experience provides Partly with a deep understanding of industry challenges and the technical expertise to develop effective solutions. Partly operates independently from any automotive body, ensuring a neutral and comprehensive approach to its technological development.

This capital injection is significant for Partly as it continues to scale its operations and expand its technological capabilities. The funds are expected to support the ongoing development of its AI model and facilitate its strategic expansion. Partly, which is UK-based with its core engineering team in Christchurch, is actively expanding its presence into the US market. The investment will be crucial in accelerating these growth initiatives and enhancing its platform's reach and functionality.

The investment round saw participation from a group of industry-leading investors, including Octopus Ventures, Blackbird, Squarepeg, I2BF, Ten13, Shasta Ventures, Icehouse Ventures, and notable individual investors such as Peter Beck (Rocket Lab), Randy Reddig (Square), Dylan Field (Figma), and Akshay Kothari (Notion). Looking ahead, Partly aims to further solidify its position as a key innovator in the automotive parts supply chain, driving continued advancements in efficiency and connectivity across the global market.