Fractory, the Estonian manufacturing technology company, has appointed a Chief Operating Officer, Lone Jensen, who is Danish, is a computer engineer turned operational powerhouse. For six years she was with Startup Wise Guys, the European B2B early-stage investor, as its Managing Director and then Chief Operating Officer.
Startup Wise Guys was named Hottest Accelerator at the 2021 Europas Startup Awards, has been consistently listed among the most active European seed stage investors by PitchBook and among the top 5 accelerators according to annual surveys of European VCs.
Lone is Fractory’s first COO and her appointment follows a funding round earlier this month.
Martin Vares, Fractory CEO and co-founder, says “that with a background in the tech sector and with expertise and experience in operational growth and development, she is exactly what Fractory needs. Her skills are complementary to the CEO and she has been successfully involved with companies at similar stages, with similar structures”.
Martin said, “We know we are becoming a bigger company with bigger clients and we need people who have already been there, who have done it before, The COO role is always partly administrative and organisational, but in our case its aim is transformative. It is concerned with handling the expansion already happening and readying us for future expansion.”
Lone Jensen, says: “Fractory is processing ever larger orders and is seeing bigger organisations coming to rely on its service, so the company structure must be diligently arranged to manage current demand as well as ongoing growth. Certain things need to be in place in a mature company and Fractory is maturing fast following recent investment and the strategic partnership that comes from it.”
Earlier this month Fractory secured £4.2m in an investment round led by a new Finnish VC fund, Kvanted, whose focus is on industrial tech companies.
Their fund investors include prominent industrialists such as Oras Invest and they act as a connector, bringing their tech investments together with traditional industrial companies in their networks.
Fractory started in 2017 in the Estonian market and has at least doubled its turnover year after year. It employs 70 people and is now headquartered in Manchester and this year The FT and Statista ranked it 32nd in its list of Europe’s 1000 Fastest Growing companies.
Fractory is an online platform connecting engineers with production capacity. It has automated the manufacturing procurement process so that engineers simply upload design files to get instant quotes and delivery times, with Fractory taking responsibility for every aspect of the order, navigating supply chains.