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Eu-Startups
4w
22
German AI startup Mercanis raises €17.3 million for its Agentic-AI procurement solution
- German AI startup Mercanis, based in Berlin, raises over €17.3 million in its latest Series A round to strengthen their Agentic-AI procurement solution and expand internationally, including entry into the U.S.
- The funding round was led by new investors Partech and AVP, with additional support from existing investors like Signals.VC, Capmont Technology, and Speedinvest, as well as business angels.
- Mercanis, founded in 2020, aims to revolutionize procurement processes with its Agentic-AI Procurement Suite, combining procurement, supplier management, and contract management.
- The AI solution offers significant process savings, efficiency gains, and return on investment, leveraging intelligent agents and AI for data analysis.
- The cloud-based platform includes modules for spend analytics, sourcing processes, supplier management, and contract management, along with the Mercu AI Co-Pilot for task automation.
- Clients like GASAG, BASF-Coatings, Goldbeck, Wilson, and Brose have benefited from Mercanis' solutions, with positive feedback on improved efficiency and decision-making.
- Investors and industry experts acknowledge Mercanis' progress, with Partech and AVP emphasizing the platform's capabilities and potential for becoming a market leader in procurement.
- Overall, Mercanis' funding success and technology advancements have positioned them as a key player in reshaping procurement operations for businesses globally.
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