Plato secures $14.5 million in seed financing
The Berlin-based startup Plato, developer of an AI-based operating system for wholesale, has successfully raised 14.5 million US dollars in a seed financing round. The round was led by Atomico and supported by Cherry Ventures, Discovery Ventures and Dieter Schwarz' D11Z.
AI for wholesale - opportunities and visions
Plato uses artificial intelligence to automate key business processes in wholesale, including sales, quotation preparation and ERP-supported processes. The platform aims to reduce manual activities, proactively support sales staff and significantly increase efficiency and profitability.
We are building the AI operating system for wholesale, starting with intelligent sales automation. With this funding, we want to scale Plato internationally and transform the entire industry.
Benedikt Nolte, CEO of Plato
Initial successes and market potential
Plato already counts several leading wholesalers among its customers, who achieve average contract volumes of over EUR 100,000. With a software margin of around 90%, Plato demonstrates the potential of a scalable AI solution for SMEs.
Expansion of platform functions and international expansion
The financing will be used to expand Plato's product offering to include procurement and customer service and to drive international expansion. The core functions of the platform are
- Sales intelligence: identifying risks and opportunities with customers
- Process automation: Increasing efficiency by automating repetitive tasks
- Industry software: Specially tailored to the requirements of the wholesale trade
Future outlook
Plato was founded by Benedikt Nolte, Matthias Heinrich Morales and Oliver Birch. With a practical approach based on the challenges of a family-run wholesale company, Plato develops solutions for the shortage of skilled workers, margin pressure and digital expectations of modern B2B customers.
With this seed funding, Plato is ready to capitalize on the $3 trillion vertical AI opportunity in global wholesale.
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