Immensa, the leading company in the Middle East and North Africa (MENA) for additive manufacturing and digital inventory, secures $20 million in funding.
The total global energy spare parts market is valued at over $90 billion, with the Middle East contributing approximately 35% of this total. However, this sector remains largely untapped by current digital platforms for additive manufacturing and digital inventory, which have seen widespread use in industries such as medicine, aviation, automotive, and jewelry.
In contrast to these industries, which have embraced additive manufacturing and 3D printing for over a decade, the energy sector only recently began adopting these technologies. One of the pioneering startups in this innovation is Immensa, based in the MENA region.
Founded by Fahmi Al Shawwa in Dubai in 2016, Immensa initially focused on leveraging additive manufacturing and 3D printing for industrial applications. After two years, the company identified the energy sector as its target market and has now successfully raised $20 million in Series B funding.
Globally, various industries face significant challenges in their global supply chains, as traditional structures often struggle to effectively meet customer needs. Industries such as oil and gas, petrochemicals, and power generation have some of the most complex supply chains globally.
In an interview with TechCrunch, Al Shawwa noted that major companies like Equinor, ConocoPhillips, and the Saudi Electricity Company each hold spare parts valued at over a billion dollars, most of which are manufactured outside their headquarters.
Additive manufacturing allows these conglomerates to access spare parts on demand without mass production in hubs across Southeast Asia, China, or Latin America.
In the case of Immensa, the company assesses these parts for its clients and determines the percentage that qualifies for on-demand production, thereby reducing its clients’ heavy reliance on imports. For example, if a factory near London experiences turbine issues requiring the replacement of an impeller, the typical process involves submitting a request to the procurement warehouse.
If the warehouse has the part, it is sent; otherwise, the manufacturer is contacted. The manufacturer, based in Germany, collaborates with a contract manufacturer in China, leading to the production of the part.
After quality control in Germany, the part is shipped to London and then to the client. This shipping-intensive process contributes to a carbon footprint that is likely 50% or more than what local production would entail.
