Mercanis Raises $10M Series Seed Investment to Revolutionize Procurement Efficiency

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Berlin-based startup Mercanis has successfully raised $10 million in its latest seed funding round, led by institutional funds such as Signals.VC, DI Technology, and Speedinvest. The round also saw participation from successful entrepreneurs and well-known angels, including Dr. Ulrich Piepel, Dr. Marcell Vollmer, Mirko Novakovic (Instana), and Victor Jacobsson (Klarna). Mercanis distinguishes itself in the market with its user-friendly sourcing and supplier management tools, leveraging networking benefits and automation to achieve cost savings of more than 40%.

Fabian Heinrich, CEO and Co-Founder of Mercanis, expressed gratitude for the trust shown in this funding round and highlighted the role of forward-thinking procurement software in today’s economic landscape. He emphasized that Mercanis’ solution not only facilitates growth but also delivers cost and time efficiencies, while offering robust risk mitigation for its clients.

Founded in 2020 by Fabian Heinrich and Moritz Weiermann, Mercanis is dedicated to reshaping how businesses make purchasing decisions and interact with service providers. The startup employs data insights and Artificial Intelligence (AI) to achieve these goals. The recent seed funding round positions Mercanis to fuel growth and innovation, with a focus on product development, particularly harnessing the potential of AI within its procurement suite. The software already utilizes large language models (LLMs) in contract analysis and autonomous sourcing.

Dr. Daniel Kirchleitner, General Partner at Signals.VC, highlighted Mercanis’ unique value proposition in solving procurement challenges, combining process automation, predictive analytics, and AI to deliver compounded product value to its customers.

As companies grapple with macroeconomic challenges and inflation, the implementation of transformative technologies becomes increasingly vital. Sven Novak, Director Global Indirect Procurement at Amer Sports, praised Mercanis for bringing efficiency and transparency to organizations, enabling them to scale capabilities efficiently even during times of crisis.

Already trusted by global giants like Linde, Wilson, and Arcteryx, as well as prominent Mittelstand players such as weinor and Oventrop, Mercanis is making significant strides in reshaping the procurement landscape. The company’s comprehensive suite of products covers Spend Analytics, Sourcing & Request Events (RFx), Supplier Management (SRM), and Contract Management, all aimed at helping companies achieve substantial savings through network effects and automation.

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