Akirolabs, a Berlin-based ProcureTech startup, has made waves in the tech investment scene with its recent announcement of a successful $5 million seed funding round. This funding marks a significant milestone for the company, propelling its mission to redefine strategic procurement processes for enterprises worldwide.
The investment round was led by prominent venture capital firms including HTGF, OTB Ventures, and D11Z. Ventures, along with participation from Switzerland’s Serpentine Ventures. Notably, akirolabs also attracted angel investments from industry stalwarts such as Fredrick Spalcke, Heiko Schwarz, Markus Ehrle, and Detlef Schultz, all renowned figures in the procurement and technology domains.
In conjunction with its funding achievement, akirolabs appointed Jens Rassloff as the Chairman of its Advisory Board. Rassloff, with his extensive experience in fostering growth, innovation, and investment strategies, is poised to play a pivotal role in guiding akirolabs towards its strategic objectives.
Akirolabs’ disruptive innovation in strategic procurement has garnered widespread recognition from industry analysts and experts. The company’s accolades include being named a Gartner “Cool Vendor”, featuring in Gartner’s “Hype Cycle Sample Vendor” list, earning the title of “IDC Innovator 2023”, being recognized as one of Spend Matters’ “Future 5”, and securing a spot in ProcureTech’s “Top 100 Pioneers”. Such recognition underscores akirolabs’ commitment to driving excellence and innovation in procurement solutions.
The strategic focus of akirolabs lies in unlocking the untapped potential of strategic procurement, an area often overlooked in favor of operational and tactical solutions. By leveraging AI-powered technologies, akirolabs empowers its clients to realize 4-5 times higher value from procurement activities, transcending traditional notions of savings to encompass broader aspects of total cost, supply chain resilience, sustainability, and agility.
Michael Pleuger, CEO of akirolabs, expressed gratitude for the trust and support received during the funding round. He emphasized the pivotal role of advanced strategic procurement software in today’s economic landscape, particularly in addressing macroeconomic challenges and unforeseen disruptions.
Elouise Epstein, Partner at KEARNEY and an authority on Digital Procurement, lauded akirolabs’ innovative approach, describing it as a “breakthrough innovation” with the potential to reshape the category management landscape.
Christian Arndt from HTGF echoed similar sentiments, expressing confidence in akirolabs’ trajectory towards becoming an international leader in strategic procurement.
Mateusz Lukasik of OTB Ventures highlighted the transformative potential of akirolabs’ technology in leveraging advanced decision-making processes enabled by Language Model technologies.
Thomas R. Villinger of D11Z. Ventures emphasized akirolabs’ commitment to setting new standards in strategic procurement management, emphasizing value creation beyond mere cost savings.
With its recent funding infusion and industry accolades, akirolabs is poised to disrupt the procurement landscape, ushering in a new era of strategic excellence and value creation for enterprises globally. As the company continues to innovate and expand its offerings, the future of procurement looks increasingly promising under the leadership of akirolabs.