Aletiq Secures $6.5M Funding for PLM SaaS Tool

Aletiq Secures €6 Million in Funding to Revolutionize PLM for Industrial Manufacturers

Recently, Aletiq completed a €6 million funding round, spearheaded by Point Nine, equating to approximately $6.5 million based on current exchange rates. The French-based startup formally announced this investment today.

Focus on Product Lifecycle Management

Aletiq specializes in the development of product lifecycle management (PLM) software. This software is designed for manufacturers in diverse industrial sectors, including aerospace, automotive, electronics, and luxury goods.

The Complex Landscape of Industrial Supply Chains

While companies like Airbus and Boeing are widely recognized in the aerospace industry, a vast network of suppliers – both large and small – contribute to the creation of components, parts, and specialized processes. Similar dynamics exist within the automotive, medical device, and other manufacturing industries.

Addressing a Gap in the Market

The top echelon of manufacturers already utilize PLM solutions from established providers like Autodesk, Dassault Systèmes, PTC, and Siemens. However, a significant portion of industrial companies lack access to appropriate tools for efficient operations and workflow optimization.

The Limitations of Existing PLM Systems

“The PLM market is dominated by four major players, collectively controlling 90% of the market share,” explains Geoffrey Ricard, co-founder and CEO of Aletiq, in an interview with TechCrunch. “These are established companies that initially focused on CAD [computer-aided design] software before expanding into PLM around two decades ago.”

“These solutions cater to large enterprises, such as Airbus and PSA, with extensive design teams and intricate requirements. Consequently, they are powerful but complex, demanding significant time and resources for deployment, and are often on-premise installations,” he further elaborated.

Aletiq’s Innovative Approach

Aletiq distinguishes itself through a focused approach to product lifecycle management and a commitment to the SaaS (software-as-a-service) model. The company specifically targets large SMEs and mid-market industrial businesses.

“Our solution is designed for intuitive use and rapid adoption by customers. Furthermore, its swift deployment – typically within a few months – enables a quick return on investment, often within a single quarter,” Ricard stated.

Centralized Product Data Management

Aletiq functions as a central repository for all product data, encompassing CAD files, specification sheets, quality control information, and more. It seamlessly integrates with existing enterprise tools, including CAD and ERP systems.

Enhancing Collaboration and Traceability

Beyond streamlining internal processes, Aletiq facilitates supply chain traceability and collaborative design with external partners. Customers can securely share data with both clients and suppliers through dedicated portal access.

Growth and Adoption

Since its inception in 2019, the Aletiq team prioritized platform development before onboarding its initial customers. Currently, over 5,000 individuals utilize Aletiq across 10 countries as part of their daily workflows.

Key Customers

Aletiq’s customer base primarily consists of mid-market industrial companies. However, the company has also secured partnerships with prominent organizations like Safran, Hutchinson, and Lisi Group.

Investment Details

In addition to Point Nine, Entropy Industrial and Angel Invest participated in this funding round. Notable business angels contributing to the investment include Carsten Thoma (Celonis), Emmanuel Martin-Chave (BlaBlaCar), Markus Ament (Taulia), and Stéphane Albernhe (Archery Strategy Consulting).