SeekMake, a Tunisian startup founded by Adel Ayari, has recently secured a substantial investment of 500,000 euros (539,000USD). This funding has been acquired in the form of a deal divided into three parts, after a year-long process. The investor behind this funding is Lafayette Group, a prominent European private equity firm with stakes in major manufacturing companies across the continent. Notably, this investment is significant not just for its monetary value but also for being Lafayette Group’s first venture into supporting a Tunisian or foreign startup or company.
The primary purpose of this 500,000-euro investment is to fuel SeekMake’s expansion plans on an international scale. SeekMake already boasts a diverse client base in Tunisia, the United States, and Australia. With this infusion of capital, the company is setting its sights on new markets, particularly France and Germany. 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.
Reasons for Investment
The decision by Lafayette Group to invest 500,000 euros in SeekMake is rooted in a number of compelling reasons. In the first place, SeekMake has demonstrated a commendable track record in the digital manufacturing industry, positioning itself as a leading player with a user and manufacturer base exceeding 10,000 globally. The startup’s success is underscored by its sales of over 30,000 prototypes and parts, partnerships with 72 manufacturers, and an extensive fabricator network spanning 40 countries.
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Again, Lafayette Group’s investment signifies its recognition of SeekMake’s unique position as an intermediary that streamlines the manufacturing process. SeekMake’s digital manufacturing platform acts as a bridge between industrial manufacturers and end users, effectively reducing costs and expediting the production of parts. This value proposition aligns with the evolving trends in the manufacturing sector, making SeekMake an attractive prospect for investment.
Moreover, Lafayette Group’s foray into backing a Tunisian startup for the first time speaks to SeekMake’s potential as a trailblazer in the region’s startup ecosystem. This investment not only supports SeekMake’s growth ambitions but also signifies Lafayette Group’s confidence in the capabilities and innovations emerging from Tunisia’s entrepreneurial landscape.
A Look at SeekMake
Founded in 2018 by Adel Ayari, a software developer driven by innovation and technology, SeekMake has carved a notable niche for itself in the digital manufacturing industry. Serving as a digital manufacturing platform, SeekMake facilitates the rapid and secure realization of ideas, projects, and prototypes. The startup acts as a mediator between industrial manufacturers and end users, simplifying the manufacturing process, trimming expenses, and accelerating part production within days.
SeekMake offers an array of manufacturing options, ranging from CNC machining and sheet metal fabrication to 3D printing, laser cutting, and engraving. The startup prides itself on providing a wide variety of materials that prioritize durability, strength, and cost-effectiveness. Over the course of its journey, SeekMake has achieved several milestones, including amassing a user and manufacturer base of over 10,000, forming partnerships with 72 manufacturers, and venturing into 40 countries.
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The startup’s accomplishments also extend to its growth trajectory, with the team expanding from four individuals to over 30 employees within eight months. SeekMake’s strategic affiliations, such as being labeled as a Tunisian startup under the Startup Act in 2019 and joining The Dot in 2021, have further contributed to its success. Notably, SeekMake’s recognition by Startup Insights as one of the top 5 global startups in “Distributed Manufacturing” underscores its impact and potential in the industry.
SeekMake’s commitment to collaboration is evident through its partnerships with various Tunisian startups, including Kumulus and Expensya. The startup’s contributions in materializing their prototypes and products showcase its dedication to fostering innovation within the local ecosystem. In a pivotal achievement, SeekMake joined forces with TELNET and Polymath Company in 2021, playing a vital role in the prototyping stages of Tunisia’s first satellite.
Currently, SeekMake is actively engaged in collaborating with both Tunisian and international startups, aiding in the manufacturing of their prototypes. Notably, a recent partnership with Designers Junior Enterprise marks a significant milestone, as it has led to the launch of a global 3D model marketplace named cybermake.co. This platform, operating from Tunisia, stands as a testament to SeekMake’s forward-looking approach and its dedication to driving innovation on a global scale.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard