traide, a Berlin, Germany-based startup that offers an AI-based SaaS tool that scales complained customs processes in companies of all industries and sizes, secured a seven-figure investment.
The round was led by High-Tech Gründerfonds (HTGF), along with participation from Smart Infrastructure Ventures, Prequel Ventures, and notable angel investors, including the founders of Taxdoo and Byrd.
Founded in 2005, The High-Tech Gründerfonds is a public-private venture capital investment firm based in Bonn, Germany. High-Tech Gründerfonds is an early-stage seed investor, focused on high-potential high-tech start-ups. The firm prefers to invest in industrial technology, digital technology, life sciences, and chemical sector firms based in Germany.
traide Use of Funds
The funds will be used to further develop and scale traide's AI-based SaaS solution. The investment will enable traide to expand its technology and market presence in the customs industry.
Founded in 2021 by Leonie Althaus, Philipp Friebertshäuser, and Hendrik Niemann, the team uses the latest cloud and AI technologies to help companies comply with their customs obligations and automate their customs processes. The company's SaaS solution processes product master data as well as purchasing and ordering processes and is suitable for companies of all sizes and industries.
Company: traide AI GmbH
Funding Month: August 2023
Lead Investors: High-Tech Gründerfonds (HTGF)
Additional Investors: Smart Infrastructure Ventures, Prequel Ventures, and the founders of Taxdoo and Byrd
Company Website: https://www.traide.ai/
Software Category: SaaS AI-based Classification Software