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[Funding alert] German AI-based Tacto Secures €50 Million in Funding

Dec 13, 2023 | By Startup Rise EU

German AI-based Tacto Secures €50 Million in Funding. Index Ventures and Sequoia Capital are leading the fundraising. UVC Partners, Cherry Ventures, and Visionaries Club, current investors, also participated in the funding round.

German AI-based Tacto Secures €50 Million in Funding. Index Ventures and Sequoia Capital are leading the fundraising. UVC Partners, Cherry Ventures, and Visionaries Club, current investors, also participated in the funding round.

Nevertheless, despite the challenges of handling tens of thousands of goods that are necessary to manufacturing and hundreds of suppliers, many procurement categories still rely on opaque spreadsheets and manual operations.

Read also - Estonia-based Ecobase Raises €2.5M Seed Funding

For supply chains in mid-sized industrials that are future-proof, Tacto has developed a central operating system. All procurement operations are streamlined by the AI-powered software, which also easily manages sustainable and compliant supply chains and facilitates effective material sourcing.

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By evaluating unpredictable price fluctuations in key cost drivers (such as raw material and energy costs) all through the full article portfolio and comparing them to actual prices paid, Tacto's AI may also find cost-saving opportunities of up to 10% of procurement spend.

Read also - Metz-based i-Virtual Secures €3 Million in Funding

André Petry, CEO & Co-Founder, Tacto, shared: “Supply chain disruptions and bureaucracy threaten our European economic backbone, 90 thousand mid-sized industrial companies, the ‘Mittelstand’. Tacto addresses these existential threats by offering a technological solution to build future-proof supply chains – digital, efficient, and sustainable. The funding round confirms our product's strength and allows us to double down on helping our customers stay competitive amid ever-increasing supply chain complexity.”

Luciana Lixandru, Partner, Sequoia Capital, said: "With global supply chains under pressure like never before, business leaders know that their suppliers are as strategically important as their customers. When we met André and the team, we knew Tacto would become the company to revolutionise procurement for these businesses, and Germany is the ideal place to start due to its strong ‘Mittelstand’."

About Tacto

Tacto transforms procurement and helps industrial companies create supply chains that are ready for the future. Tacto serves as the primary point of contact between these companies and their supplier network, streamlining procurement procedures, guaranteeing compliant supply chains, and facilitating effective material sourcing under ideal circumstances.

Read also - Lyon-based Axeleo Capital Secures €73 Million second Fund

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