AI for spare parts startup Intropy raises $11M to enhance product development and expand into the US market

Intropy, a London-based AI startup focused on spare parts, has successfully raised $11 million in a seed funding round led by Felix Capital, with participation from Quiet Capital and existing investors General Catalyst and Firstminute Capital.³

The funds will be utilized to accelerate product development, expand the engineering and machine learning teams, and establish a New York office as part of its strategy to penetrate the U.S. market. Franziska Kirschner, co-founder and CEO, emphasized the importance of maintaining the physical economy, stating, “The physical economy is sustained not only by what we build, but by our ability to keep it working.”⁴

Intropy’s technology has already processed over €8.7 billion ($10 billion) in spare parts demand, showcasing its potential in a market where the automotive industry alone sees more than $4 billion in spare parts transactions daily. Co-founder and CTO YihKai Teh noted, “Every machine made from multiple components will eventually need spare parts, whether it is a car on the road today, an autonomous vehicle of tomorrow or a robot supporting humanity on Mars.”⁵⁶

This funding round positions Intropy to enhance its offerings in automating critical workflows such as demand prediction, inventory distribution, obsolescence management, and dynamic pricing for spare parts businesses, further solidifying its role in the evolving landscape of the physical economy.