The Sparrow Networks marketplace is designed to ensure participants are supplied with the appropriate spare part as quickly as possible when a component in their systems fails by connecting them with the appropriate supplier. The start-up says this prevents long downtimes and expensive storage costs.
Sparrow Networks founder and MD Meir Veisberg said: "In discussions with Beumer experts, suppliers, and customers, I found out that small and medium-sized companies often aren't big enough to maintain a huge parts stock. And when they do, they do not always have the components they need."
He added that members of the new platform could benefit from an almost unlimited pool of spare parts.
Beumer Group CEO Christoph Beumer commented: "We believe Sparrow is a game-changer for spare parts. We are proud to support such an innovative platform that will give our clients the chance to reduce their stock and capital employed significantly."