Mercanis secures $10 million in seed funding round

Berlin: Start-up Mercanis receives USD 10 million for efficient procurement solutions with over 40% cost savings through digital processes. Investors: Signals.VC, DI Technology, Speedinvest.

Berlin / Sunnyvale, August 17, 2023 - Berlin-based start-up Mercanis has successfully raised USD 10 million in a seed financing round. The financing round was led by well-known investors such as Signals.VC, DI Technology and Speedinvest. Experienced business angels such as Dr. Ulrich Piepel, Dr. Marcell Vollmer, Mirko Novakovic (Instana) and Victor Jacobsson (Klarna) also participated.

Mercanis focuses on the optimization of procurement processes and supplier management, which can potentially lead to cost savings of over 40%. This solution has been recognized as a Cool VendorTM by Gartner®. The new funds will be invested in continued research, product development and AI applications to drive sustainable growth.

The support in this funding round underscores the importance of our advanced procurement software. In the midst of economic uncertainty, we not only offer growth opportunities, but also cost efficiency and risk management for our customers.

Fabian Heinrich, CEO and co-founder of Mercanis

Since its founding in 2020, Mercanis has strived to modernize the procurement process through automation and AI. The company plans to use the fresh funds to further develop its products and harness the potential of AI within its Procurement Suite. This suite already integrates Large Language Models (LLMs) for contract analysis and autonomous procurement processes.

Mercanis' software responds to macroeconomic challenges and emphasizes the role of procurement. The combination of process automation, predictive analytics and AI offers companies clear added value.

Dr. Daniel Kirchleitner, General Partner at signals.vc

The current macroeconomic situation and inflation have increased the financial pressure on companies and intensified the need for innovative technologies. Sven Novak, Director Global Indirect Procurement at Amer Sports (e.g. Wilson), noted that Mercanis' software offers companies efficiency and transparency and supports capacity expansion in times of crisis.

Mercanis has already acted as a trusted partner for large companies such as Linde, Wilson, Arcteryx as well as well-known medium-sized companies such as weinor, Oventrop and Frutiger.

About Mercanis: Founded in 2020 by Fabian Heinrich and Moritz Weiermann, Mercanis has established itself as a leading procurement suite solution. The company offers solutions in the areas of Spend Analytics, Sourcing & Request Events (RFx), Supplier Management (SRM) and Contract Management. This approach enables companies to achieve significant savings through automation. Mercanis' work is supported by investors such as SpeedInvest, DI Technologies, Signals.vc and the Plug and Play Tech Center.