2.5 million euros seed secured for Scavenger AI

The Frankfurt-based start-up Scavenger AI has closed a seed financing round of 2.5 million euros. The round was led by BMH Beteiligungs-Managementgesellschaft Hessen mbH (BMH), with participation from xdeck, a public innovation fund, as well as existing investors High-Tech Gründerfonds (HTGF) and Calm/Storm Ventures.

The start-up aims to make European SMEs data-ready with an AI platform that analyzes company data in seconds.

From the question to the answer

Scavenger AI was founded by Felix Beissel and Maximilian Hahnenkamp (both Forbes 30 Under 30) and is developing a platform that radically simplifies access to company data. Instead of complicated BI tools or waiting times for reports, employees can address their questions directly to the AI. Much like a chat.

For example: "How are our cost centers developing?" or "Which projects are over budget?" Scavenger provides comprehensible, data-supported answers in seconds.

The platform integrates into existing systems such as ERP, CRM or SQL databases, making all company knowledge available in natural language. This means that data analysis is no longer reserved for IT teams, but is accessible to all employees.

Our goal is simple: every employee should be able to make data-based decisions without writing a single line of code.

Maximilian Hahnenkamp, Co-Founder Scavenger AI

Developed for Europe's SMEs

Scavenger AI is aimed specifically at small and medium-sized enterprises (SMEs), which make up 98% of all companies in the DACH region. While many US tools are tailored to large corporations, Scavenger offers customized solutions for SMEs. This includes GDPR certification, data transparency and individual AI models for every company.

We are the European counter-model to the US tech giants. Europe's SMEs deserve AI that is secure, explainable and tailored to their needs - not an impenetrable black box approach.

Felix Beissel, Co-Founder Scavenger AI

A number of well-known customers such as Telekom, Mann & Schröder and Wangen Pumpen are already using the technology to make their data analyses more efficient and easier to understand.

Investors see clear market potential

The European market for business intelligence in SMEs is estimated to be worth around 2.45 billion euros. With the new funding, the startup plans to expand its team, accelerate product development and expand into other European markets.

"With Scavenger AI, we are investing in a founding team that fully understands the challenges faced by SMEs," says Sebastian Schnell, Senior Investment Manager at BMH."The solution increases productivity and competitiveness - and thus makes a decisive contribution to the digital transformation of SMEs."

For many companies, the biggest hurdle to digitalization is not the lack of data, but the lack of use of this information. Scavenger AI aims to close this gap and enable SMEs to work with data as naturally as they work with emails. The Frankfurt-based start-up is thus positioning itself as a catalyst for data-driven transformation in Europe.