Aiming the Global Market: Tunisian Tech Company SeekMake Raises Half a Million Dollars to Hasten Its Growth
Tunisian startup SeekMake, led by founder Adel Ayari, has achieved a significant milestone by securing a substantial investment of 500,000 euros (approximately US$539,000).
This funding marks a major breakthrough for the company, as it has been acquired through a multi-phase deal after a rigorous year-long process. The backing for this endeavor comes from Lafayette Group, a prominent European private equity firm known for its investments in leading manufacturing companies across the continent.
Notably, Lafayette Group's involvement in SeekMake represents their inaugural foray into supporting a Tunisian or foreign startup, underscoring the significance of this partnership.
The infusion of 500,000 euros serves as a pivotal step in SeekMake's ambitious expansion strategy, propelling the startup onto the international stage. While already boasting a diverse clientele spanning Tunisia, the United States, and Australia, SeekMake is now poised to venture into new territories, with a particular focus on France and Germany. These countries offer promising prospects for collaboration with major clients and strategic partners, aligning perfectly with SeekMake's growth trajectory.
As part of its expansion plan, SeekMake has also established a subsidiary in Estonia, further solidifying its commitment to global outreach.
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.
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.
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.
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.
In a noteworthy demonstration of its dedication to fostering innovation within the local ecosystem, SeekMake has established collaborations with a range of Tunisian startups, including Kumulus and Expensya. These partnerships have enabled SeekMake to actively contribute to the realization of prototypes and products, showcasing its commitment to promoting innovation.
In a significant achievement, SeekMake entered into a partnership with TELNET and Polymath Company in 2021, where it played a pivotal role in the prototyping stages of Tunisia's inaugural satellite. This collaboration marked a crucial milestone in SeekMake's journey.
Currently, SeekMake continues to actively engage with both Tunisian and international startups, offering its expertise in prototype manufacturing. A recent and notable partnership with Designers Junior Enterprise has led to the launch of a global 3D model marketplace called cybermake.co. Operating from Tunisia, this platform underscores SeekMake's forward-thinking approach and its unwavering commitment to driving innovation on a global scale.