17 million euros for two Berlin founders with this pitch deck – and yes: with AI, of course
The Berlin-based AI startup Mercanis has new investors on board. Partech and AVP participated in its recently completed Series A financing round of $20 million (approximately €17 million). Partech is a Paris-based VC that invests internationally in early-stage and later-stage startups.
The portfolio includes German startups such as Koro, The Exploration Company, and Coachhub. AVP has offices in New York, London, and Paris and is invested in companies such as Zenjob.
Existing investors are also participating in the round: Signals.VC, Capmont Technology, and Speedinvest. As are several business angels, such as Klarna co-founder Victor Jacobsson.
Mercanis operates in the procurement sector – a cumbersome word, but actually means purchasing. The startup has developed a platform that enables companies to make their processes in this area data-driven and transparent, including supplier management and contract management. All of this, of course, with AI. It continuously analyzes procurement data with the goal of identifying savings potential along the entire process chain.
According to the company, Mercani's platform enables companies to achieve savings of up to 40 percent. The startup targets its solution at medium-sized and large companies. Customers include sports equipment manufacturer Wilson, Gasag, and BS Energy.
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Mercanis was founded in 2020 by Fabian Heinrich and Moritz Weiermann. The startup now has around 40 employees. In August 2023, it closed a seed round of ten million US dollars.
With the current Series A capital, Mercanis intends to drive expansion, particularly into the US market, and further develop its AI solution. According to Vivatech, Mercanis is one of the 36 German startups with the highest hopes and is included in this year's ranking of the " Top 100 Rising European Startups ."
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