Funding

[Funding alert] Munich-based Mindfuel Secures €3.75 Million in Seed Funding

Mar 15, 2024 | By Startup Rise EU

Mindfuel, a data product management company, announces the secures €3.75 million in seed funding led by Project A Ventures. Mindfuel has developed an all-in-one data product management software that empowers professionals to unlock the full business potential of their organization's data and AI efforts.

Every organization aims to monetize its data one day. But many organizations struggle to manage, steer, and monitor their data initiatives among all business functions, resulting in a lack of measurable and meaningful business impact from data.

Data leaders have no comprehensive overviews and transparency of their data investments, making it hard for them to identify and prioritize the most valuable initiatives and justify the return on investment.

Read also - Osnabrück-based NeoTaste Secures €15.1 Million in Series A Extension Funding

Mindfuel’s software ‘Delight’ changes this by incorporating product management into the value-creation process of data. With ‘Delight’, AI and data professionals can actively manage their data initiatives from a measurable financial impact perspective, and facilitate a goal-oriented conversation between data and business teams.

The AI-driven portfolio management provides data teams with a clear overview of all their data products, which in turn supports both strategic prioritization and governance. In practice, ‘Delight’ accelerates a direct value contribution and supports the data monetization process, which when steered and reported onboard- and C-level greatly, empowers strategic, data-driven decision-making.

Nadiem von Heydebrand, CEO and co-founder of Mindfuel said, "The world of data is lacking the product mindset. We bring state-of-the-art product management into the world of data and AI to effectively increase the success of data initiatives inorganizations and make the dream of data monetization a reality, Nowadays, every data leader is challenged to demonstrate the ROI of data initiatives. With Delight, they have everything they need at their fingertips to illustrate their value contribution to the company's strategy and excite stakeholders and C-levels with their efforts".

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Mindfuel already supports customers from insurance, telecommunication, consumer packaged goods, and publishing industries such as Vodafone, HelloFresh and Cornelsen to get the most out of their data products.

‘Delight’ illustrates the data value contribution in hard figures and makes data actionable to increase data ROI, reduce costs, and foster collaboration between business and data teams.

It can create a single view of all company-wide business opportunities, replacing guesswork with data-driven prioritization and providing complete data visibility, while helping to navigate the complexities of data privacy and compliance. ‘Delight’ seamlessly integrates with existing data and analytics products, aligning them with specific business values and actively managing return on investment.

Read also - Vienna-based Necture Secures €7 Million in Series A Round Funding

Mindfuel's B2B enterprise SaaS solution is being launched in key European markets including Germany, Austria, UK, Sweden, Finland, Netherlands, Belgium, Switzerland, Czech Republic, Poland and Iceland. The funding round will accelerate the company's go-to-market in Europe and the US and further develop the software with over a dozen enterprise customers in Europe.

About Mindfuel

Mindfuel's software, "Delight," which was founded in 2019 and integrates product management into the data value-creation process. AI and data experts can use "Delight" to assist data and business teams have goal-oriented conversations while actively managing their data initiatives from a measurable financial benefit viewpoint.

The creator of Data Product Management is Mindfuel. We provide an AI-powered SaaS solution enhanced with professional services to help you take your data projects from concept to quantifiable outcome.

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