CNC24 closes Series A with 8.25 million euros

Berlin, August 4, 2022 – CNC24, the procurement platform for precision components founded by Willi Ruopp and Marlon Gerat in 2019, successfully closes its first financing round with 8.25 million euros. Following experienced business angels such as Fabian Wesemann, CFO & Co-Founder of wefox, as well as Dario Fazlic and Nicolas Bürer, Future Industry Ventures is leading the financing round as lead investor. In addition, coparion, EquityPitcher Ventures and, existing investor, Seedcamp are participating in CNC24’s Series A. The Berlin-based start-up intends to use the fresh capital to further develop its product, build up its sales organization, recruit new employees and implement its internationalization plans, including the expansion of its supplier network, before the end of this year.

Willi Ruopp, CEO and co-founder of CNC24, explains: “CNC24 has set out to become the undisputed No. 1 for precision components in Europe.” The expert in scaling digital business models adds: “In 2019, we founded CNC24 with the aim of revolutionizing the procurement process for components by combining technology and personal advice to drive smart automation. We are now delighted to have top-class investors on board to support our integrative platform approach and together we are conquering the €50 billion+ market for components.”

Stefano Gurciullo, Partner at Future Industry Ventures, explains: “In increasingly volatile markets characterized by supply chain risks, CNC24 addresses an important problem in the manufacturing industry. Especially for SMEs and deep tech companies, industrial component sourcing is often a costly and time-consuming task, as it takes a lot of time to find the right production partner that offers fair prices but also ensures the highest quality and reliability. We are impressed that CNC24 has managed to combine the digital platform approach with first-class quality assurance to provide their customers with resource-saving procurement. The team’s vision has convinced us and we are very pleased to work with them to develop this new standard.”

After three years, CNC24 has already recorded a total order volume of over €500 million. “With our unique hybrid approach, we give the customer exactly what they want and create a sustainable customer relationship: while the procurement process is handled fully digitally, our expert team of engineers and machinists is on hand to advise customers. We can also guarantee our high quality standards thanks to our carefully selected partners on the one hand and our in-house measuring center in Berlin on the other. The complaint rate of less than 0.17% is the turbo for our outstanding NPS,” says co-founder Marlon Gerat, who leads the production team thanks to his many years of in-depth industry expertise.

Stefan Martinez, Investment Manager at coparion, is also positive about the future: “CNC24 impressed us right from the start with its in-depth understanding of the market and customer needs. The strong focus on high quality and intensive customer support in the right place clearly set CNC24 apart from the competition. This can also be seen in the great customer feedback and strong sales growth. The team around Marlon, Willi and Malte complement each other perfectly in their strengths and, in addition to deep industry expertise, have shown the necessary drive to build something very big. We look forward to supporting CNC24 in this financing round and over the coming years. “Customers such as SIEMENS, DIEHL Group, Qualcomm, KRONES AG, Carl Zeiss, Vishay, BASF, CERN, FANUC and Syntegon have already opted for the digital B2B procurement platform for individually manufactured industrial components. The data-driven approach enables a smooth matching process between components and machine tools from over 500 manufacturing partners around the world. To this end, CNC24 relies on market-driven pricing by allowing the connected manufacturers to calculate their offer prices independently and access available production capacities in real time. The aim of CNC24 is to create an ecosystem for a transparent and simple procurement process for both customers and suppliers.