GERMANY – Mercanis, a Berlin, Germany-based procurement suite solution that specializes in sourcing and supplier management, raised $10M in Seed funding.
The round was led by Singals.VC, DI Technology, and Speedinvest, with participation from Dr. Ulrich Piepel, Dr. Marcell Vollmer, Mirko Novakovic (Instana), and Victor Jacobsson.The company intends to use the funds for R&D, the AI-powered procurement platform, customer growth, and team expansion.Founded in 2020 by Fabian Heinrich and Moritz Weiermann, Mercanis uses data insights and Artificial Intelligence to allow businesses to make purchasing decisions and interact with service providers. The primary focus will be on product development, including further leveraging Artificial Intelligence (AI) within the Mercanis procurement suite. The software already uses large language models (LLMs) in contract analysis and autonomous sourcing. The company aims to empower procurement by offering a comprehensive set of products emphasizing on four key areas: Spend Analytics, Sourcing & Request Events (RFx), Supplier Management (SRM), and Contract Management. Mercanis is already a partner for global companies like Linde, Wilson, Arcteryx, Hypoport, and prominent Mittelstand players such as weinor, Oventrop, Frutiger.17/08/2023
