French startup Aletiq has announced a €6 million funding round led by Point Nine, marking a significant milestone in its mission to democratize product lifecycle management (PLM) for industrial companies. The funding, which is equivalent to approximately $6.5 million at current exchange rates, will enable Aletiq to further develop its innovative PLM software and expand its customer base.

Aletiq's PLM solution is specifically designed for mid-market industrial companies in sectors such as aerospace, automotive, electronics, and luxury goods. These companies, which often operate in the shadow of industry giants like Airbus and Boeing, have historically lacked access to effective PLM tools. Traditional PLM software, developed by companies like Autodesk, Dassault Systèmes, PTC, and Siemens, is often complex, time-consuming to deploy, and tailored to the needs of large enterprises.

"The PLM market is one in which there are four major players who account for 90% of the market … These are very big companies that initially had CAD [computer-aided design] software and then developed PLM around twenty years ago for very big companies, such as Airbus and PSA, which have design offices employing several thousand people and very complex requirements," Aletiq co-founder and CEO Geoffrey Ricard explained in an interview with TechCrunch.

Aletiq's approach, on the other hand, is centered around providing an intuitive, easy-to-use PLM solution that can be quickly deployed and adopted by mid-market industrial companies. The company's software-as-a-service (SaaS) model allows for rapid deployment, typically within a few months, and provides a single source of truth for product data, CAD files, specification sheets, and quality requirements. Aletiq's platform also integrates with existing enterprise tools, including CAD and ERP software.

One of the key benefits of Aletiq's PLM solution is its ability to facilitate supply chain traceability and co-design with other companies. According to Ricard, customers can use the platform to communicate with partners by sharing data, and suppliers can access a dedicated space on the platform, creating a seamless collaboration experience.

Since its inception in 2019, Aletiq has made significant strides in developing its platform, signing its first customers, and expanding its user base to 5,000 people across 10 countries. The company has also attracted notable customers, including Safran, Hutchinson, and Lisi Group. In addition to Point Nine, investors Entropy Industrial, AngelInvest, and several business angels, such as Carsten Thoma (Celonis), Emmanuel Martin Chave (BlaBlaCar), Markus Ament (Taulia), and Stéphane Albernhe (Archery Strategy Consulting), have participated in the funding round.

Aletiq's €6 million funding round marks a significant milestone in the company's mission to democratize PLM for industrial companies. As the company continues to grow and expand its customer base, it is likely to pose a significant challenge to traditional industry giants, ultimately driving innovation and efficiency in the PLM market.