akirolabs, a Berlin, Germany-based procuretech startup, has raised $5 million in seed round
SaaS Investors
The round was led by HTGF, OTB Ventures and D11Z. Ventures, and Switzerland's Serpentine Ventures, alongside angel investments from industry leaders such as Fredrick Spalcke (ex-CPO of Phillips & Huawei), Heiko Schwarz (CEO of riskmethods), Markus Ehrle (VP and General Manager EMEA at ServiceNow), and Detlef Schultz (former CEO of the Vodafone Procurement Company).
Founded in 2005, High-Tech Gründerfonds is a venture capital investment firm based in Bonn, Germany. The firm seeks to invest in industrial technology, digital technology, life sciences, and chemical sector firms based in Germany.
OTB Ventures is a venture capital firm based in Warsaw, Poland. Founded in 2017, the firm seeks to invest in early growth, post-product, post-revenue, and high-tech start-ups with links to the CEE region.
Born2Grow is a venture capital firm that seeks to invest in companies operating in the automation, electronic, energy, life science, information technology, nanotechnology, and material science sectors across Germany and Israel. Founded in 2012 and based in Heilbronn, Germany.
akirolabs Use of Funds
The company will use the funds to evolve its SaaS product and enhance its AI capabilities, as well as to further scale customer growth and business operations.
About akirolabs
Founded in 2021 by Michael Pleuger, Detlef Schultz, Christoph Flöthmann, and Tim Ergenzinger, akirolabs provides an AI-powered strategic procurement SaaS solution, focusing on unlocking and achieving higher value from procurement beyond savings. The platform aims to address capability gaps and enhance strategic procurement in areas like total cost, supply chain resilience, sustainability, and agility. akirolabs has received industry recognition, including being named a Gartner "Cool Vendor," Gartner's "Hype Cycle Sample Vendor," and Spend Matters "Future 5."
Funding Details
Company: akirolabs GmbH
Raised: $5.0M
Round: Seed Round
Funding Month: January 2024
Lead Investors: HTGF, OTB Ventures and D11Z
Additional Investors: Serpentine Ventures, Fredrick Spalcke, Heiko Schwarz, Markus Ehrle, Detlef Schultz
Company Website: https://akirolabs.com/
Software Category: Procurement Solutions
Source: https://www.prnewswire.com/news-releases/akirolabs-raises-5m-in-seed-funding-to-revolutionize-strategic-procurement-302045972.html