[Funding alert] Berlin-based akirolabs Secures $5 Million in Seed Funding

Monday 29, 2024 | By Startup Rise EU

Berlin-based akirolabs secures $5 million in seed funding. In addition to angel investments from prominent figures in the sector like Fredrick Spalcke (former CPO of Huawei and Phillips), other investors in this round included HTGF, OTB Ventures, D11Z. Ventures, and Serpentine Ventures of Switzerland.

Berlin-based akirolabs secures $5 million in seed funding. In addition to angel investments from prominent figures in the sector like Fredrick Spalcke (former CPO of Huawei and Phillips), other investors in this round included HTGF, OTB Ventures, D11Z. Ventures, and Serpentine Ventures of Switzerland.

Detlef Schultz (former CEO of the Vodafone Procurement Company), Markus Ehrle (VP and General Manager EMEA at ServiceNow), and Heiko Schwarz (CEO of riskmethods).

Read also - Limburg-based Foodtech Company Verdify Raises €2.4Million in Funding

Interestingly, Jens Rassloff has been named by akirolabs as the Chairman of the Advisory Board. Jens provides a wealth of knowledge and experience from the tech business, particularly in the areas of growth, innovation, and investment strategies. He holds similar roles at Coparion, Parloa, and d.velop.

Akirolabs emphasizes that industry benchmarks show a far higher value potential in strategic procurement, whereas operational and tactical solutions for efficiency and savings were the main emphasis of digitization in procurement in the past.

Read also -  Netherlands-based Tidal Control Secures €500K in a Pre-Seed Round Funding

Capability gaps frequently prevent this potential from being realized. Furthermore, the necessity for more strategic procurement has increased and intensified in response to the previous black swan events and the current socioeconomic concerns.

Michael Pleuger, CEO of akirolabs said, “We’re very grateful for the trust placed into akirolabs in this funding round. It emphasizes the imperative of advanced strategic procurement software in today’s economic environment. In these challenging times, akirolabs does not just facilitate savings on price. Much more, our solution delivers tangible improvements in total cost and supply chain resilience, sustainability and agility, strengthening the competitiveness of our customers.”

Elouise Epstein, KEARNEY Partner & best-selling author on Digital Procurement said, “What you have created is significant… there is no doubt in my mind that this is a breakthrough innovation. akirolabs is on a trajectory to eliminate much of the category management function as we know it. today.”

Mateusz Lukasik, Investment Director at OTB Ventures. said, “akirolabs fits the bill and we are excited to support them. With the advent of LLMs, there is an opportunity to transform the strategic aspects of procurement decision-making. Founding teams that combine a deep domain expertise with technical prowess will thrive in this environment.”

About akirolabs

Michael Pleuger, Detlef Schultz, Christoph Flöthmann, and Tim Ergenzinger created akirolabs in 2021. The company develops and offers a SaaS platform for collaborative strategic procurement that is powered by AI.

Read also - Amsterdam-based Send AI Raises €2.2Million in a Pre-Seed Round Funding

The foundation of akirolabs is a top-notch, widely used strategic procurement process, methodology, and toolset that is integrated into a user-friendly cross-functional collaborative workflow and enhanced with pertinent internal and external business data.

Recommended Stories for You

story
News

German-based Octomind Secures $4.8 Million in Seed Funding

Startup Rise EU Tuesday 23, 2024

story
News

Dublin-based SynOx Therapeutics Secures $75Million in Series B Round Funding

Startup Rise EU Tuesday 23, 2024

story
News

Paris-based Zefir Secures €11Million in Funding

Startup Rise EU Tuesday 23, 2024

story
News

Helsinki-based HappySignals Secures €12 Million in Funding

Startup Rise EU Tuesday 23, 2024

story
News

Italian-based Lithium Lasers Secures €2 Million in Funding

Startup Rise EU Monday 22, 2024

story
News

[Funding alert] Munich-based Smart Reporting Secures €23 Million in Series C Round Funding

Startup Rise EU Monday 22, 2024