Highlights:
- akirolabs awarded 7-digit non-dilutive public funding
from Investitionsbank Berlin and the European Regional Development
Fund (ERDF).
- The jury acknowledged akirolabs' breakthrough innovation in
ProcureTech and praised its advancements in integrating AI into
strategic procurement.
- Fund will be utilized to develop further akiroAssist, the
leading Expert LLM for Strategic Procurement, enhancing
akirolabs' AI capabilities and reinforcing its position as an
AI-first ProcureTech SaaS company.
- This public funding comes after the company's $5M seed round announcement in January this
year, which was led by High-Tech Gründerfonds (HTGF), OTB
Ventures, and D11Z Ventures.
BERLIN, July 25, 2024 /PRNewswire/ -- akirolabs,
a Berlin-based ProcureTech
startup, enabling enterprises worldwide to augment strategic
procurement processes, announces an extension to its recent
$5 million seed funding with an
additional 7-digit ( € million) non-dilutive grant from
Investitionsbank Berlin and the European Regional Development Fund
(ERDF).
This highly competitive grant, awarded only to top tech startups
pushing the boundaries of innovation and technology, comes shortly
after the company's successful $5
million seed funding round, underlining the strong momentum
and confidence in akirolabs' vision for AI-driven strategic
procurement transformation..
The jury was notably impressed by akirolabs' vision and the
development of akiroAssist, their proprietary and leading expert
LLM for strategic procurement, which enhances their category
management software. This innovative use of technology played a
crucial role in securing the grant, highlighting the company's
distinctive position in the ProcureTech landscape.
akirolabs is developing what they call the "Penrose Triangle of
ProcureTech" - an impossibly replicable masterpiece that combines
three key elements:
- Unique Procurement Domain Expertise
- Revolutionary and Highly Innovative Procurement
Methodology
- Cutting-edge AI Engine Leveraging Large Language Models (LLM),
Retrieval-Augmented Generation (RAG), and Ontology
This funding will be strategically utilized to further advance
the software's AI/LLM capabilities, solidify akirolabs' position as
the AI-first ProcureTech B2B SaaS company, and accelerate product
development and team expansion.
This funding will be strategically utilized to further advance
the software's AI/LLM capabilities, solidify akirolabs' position as
the AI-first ProcureTech SaaS company, and accelerate the
development of akiroAssist – the leading LLM for strategic
procurement.
Michael Pleuger, CEO of
akirolabs, stated, "We're honoured to receive this recognition and
grant from IBB ProFIT and the ERDF. This vote of confidence from
IBB ProFIT and the ERDF fuels our commitment to pushing the
boundaries of what's possible in procurement"
"We're excited about the journey ahead and deeply grateful for
the support of our investors, customers, and partners" added
Pleuger.
Industry expert Elouise Epstein,
KEARNEY Partner and best-selling author on Digital Procurement has
previously lauded akirolabs: "What you have created is
significant... there is no doubt in my mind that this is a
breakthrough innovation. akirolabs is on a trajectory to eliminate
much of the category management function as we know it today."
About akirolabs:
akirolabs, founded in 2021 by Michael
Pleuger, Detlef Schultz,
Christoph Flöthmann, and Tim
Ergenzinger, develops and provides an AI-powered SaaS
platform for collaborative strategic procurement. akirolabs is
based upon a world-class and industry-proven strategic procurement
process, methodology, and toolkit, embedded into an intuitive
cross-functional collaboration workflow and enriched with all
relevant internal and external business insight. akirolabs' unique
approach delivers "Procurement Strategies with Value & Purpose"
and a significantly broader and 4-5 times higher value contribution
than traditional sourcing solutions.
Press Contact:
Tim
Ergenzinger
akirolabs GmbH
Greifswalder Str. 208
10405 Berlin
hello@akirolabs.com
Tel: +49 30 754 384 66
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