Fractory secures further funding
Fractory has secured funding and a €4m venture debt facility from Kreos Capital. The funding will enable the company to bring the efficient manufacturing solution to more companies in more markets.
Martin Vares, Fractory co-founder and chief executive, said: "Raising a strong A round last year gave us the tools to improve our position in an increasingly competitive market. We're now continuing that momentum. And with Kreos backing us we can successfully take our efficient manufacturing solution to more companies in more markets." Vares said that the deal is a "testament to Fractory's strong business performance".
"Investments are made in the hopes of the startup making it," he added. "A loan facility is issued when the lender has confidence in the company's ability to pay it back."
Fractory is an Estonian start-up, now based in the UK, with offices in the US, Finland and Estonia. Fractory is a cloud manufacturing marketplace that provides a one-stop shop for engineering companies in need of custom laser-cut parts.
See more: https://www.insidermedia.com/news/deals/manufacturing-business-secures-further-funding
Fractory celebrates Summer Days ‘22 getting all the teams together
Last month, Estonian-founded cloud manufacturing startup Fractory got together for a long-awaited reunion - to celebrate summer and just enjoy being together face to face, for the first time in a long time.
The teams, together with their families gathered in Valma Seikluspark at the peak of white nights to enjoy the best Estonian summer can offer - all the way from their own “Olympics”, including competitive sports of all kinds, sauna, swimming, and a breathtaking sunset on the coast of Lake Võrtsjärv.
Fractory currently stands at 82 people and has offices in Tartu, Tallinn, Turku, Manchester, and Chicago.