We from up2parts, an emerging and innovative company in the field of software development to digitalize the manufacturing industry, proudly announce that two international companies have joined our start-up as strategic investors.
Sandvik and Schaeffler are leading players within industry and manufacturing and not only contribute to the further growth of up2parts, but also enhances the existing partnership between the companies.
Investment by Sandvik SE
Sandvik, a global high-tech engineering group that provides solutions that increase productivity and sustainability for the manufacturing, mining and infrastructure industries. Sandvik sees up2parts' goal of combining human cognition, artificial intelligence (AI) and knowledge with standards to perform autonomous work plan creation, routing, quoting and CAM programming as an important initiative to address one of the biggest pain points in manufacturing: the shortage of skilled workers. "Generative AI has rapidly evolved as a technology for manufacturing and will play an important role in the future of closed-loop manufacturing. Our investment In up2parts will fit Sandvik's ambitions in leveraging cloud and AI technologies to solve the automation needs in CAM and thereby simplifying manufacturing," says Magnus Malmström, Chief Technology Officer at Sandvik Manufacturing Solutions.
Investment by Schaeffler AG
With Schaeffler, a global industrial and automotive supplier, up2parts has another investor on board who is also development partner. The commitment as an investor underlines the close cooperation that has been built up over the past years within the joint development project. Thomas Krämer, Head of Advanced Production Technology at Schaeffler and Co-CEO of up2parts, says: “Schaeffler and up2parts have a strong, close partnership, which we now want to strengthen even further. The joint development of an innovative system for the digitalization of toolmaking will be groundbreaking: using artificial intelligence, Schaeffler will, for example, be able to plan route sheets even more efficiently in the future. We will also develop a cloud-based AUTOCAM solution for the automatic creation of machining programs for machine tools.”
Digital manufacturing solutions for markets worldwide
The partnership with Sandvik and Schaeffler, as well as the existing investor, DMG MORI, create access to an extensive network, technological resources, and industry expertise. The collaboration will enable up2parts to further improve the development of digital manufacturing solutions and open new markets worldwide.
Strategic partnership for a promising future
"The strategic investors Sandvik and Schaeffler not only strengthen our financial base, but also bring valuable expertise and market knowledge. Their expertise will help us make our vision of a digital and efficient manufacturing landscape real. We are convinced that these strategic partnerships will lead to a promising future. Together, we will fully exploit the potential of digital manufacturing and set new standards in the industry." Marco Bauer, Chief Executive Officer at up2parts GmbH.
Caption from left to right: Niels Fehre (Head of Corporate Investment Management, Schaeffler AG), Marco Bauer (CEO, up2parts GmbH), Thomas Krämer (Head of Advanced Production Technology, Schaeffler AG and Co-CEO, up2parts GmbH), Dirk Hullmann (Managing Director, Gildemeister Beteiligungen GmbH), Børge Anegaard (Managing Director & General Manager, Sandvik Holding GmbH).