SPREAD closes financing round of 16 million US dollars

Berlin-based startup SPREAD has secured €15 million in its Series A funding round. The round is led by HV Capital with participation from Berlin-based early-stage investor Cavalry Ventures.

SPREAD has developed an "Engineering Intelligence Network" that makes it easier for engineers and technicians to access all relevant product information. This platform networks and analyzes product data to create an overall understanding and use resources more efficiently.

The startup's Series A funding round is led by HV Capital and backed by Berlin-based early-stage investor Cavalry Ventures. In addition, well-known angel investors such as Figma founder Dylan Field, the founders of logistics unicorn Sennder, and the founder of U.S. private equity firm Summit Partners, Walter Kortschak, are participating.

The greatest waste exists where product information is opaque. Our software networks knowledge from and for engineers

Philipp Noll, Co-Founder and GF SPREAD

By using the software, one kilogram of line weight per vehicle could be saved in one use case, which would mean potential savings of 2.73 billion kilograms of CO₂ in the case of 80 million vehicles produced in 2021. Called the Engineering Intelligence Network, the solution is changing the way products are developed, produced and repaired, also attracting international interest from a range of industries. The software enables a holistic understanding of how different engineering disciplines interact and serves as the basis for agile product development.

We are pleased to have HV Capital as a partner at our side. Their expertise and experience will help us in our expansion.

Robert Göbel, GF SPREAD

Spread plans to use the investment to further develop its software platform and expand into additional markets. The Berlin-based company's goal is to make complex physical products smarter and more sustainable. It aims to achieve this goal by combining existing data from different areas of technology to enable improvements across the entire product lifecycle. The funding will also be used to build on initial successes outside the automotive sector and expand EIN's reach.