Tacto receives 5.3 million euros

The company wants to use the money to digitize purchasing and supply chains in industrial SMEs.

Munich-based startup Tacto has raised €5.3 million in a seed funding round. Investors Cherry Ventures, UVC Partners and Visionaries Club lead the round. In addition, business angels Hanno Renner of Personio, Johannes Reck of Getyourguide, Michael Wax of Forto and Torsten Reil of Helsing are now on board.

The company wants to use the money to further digitize purchasing and supply chains in the industrial SME sector. "We are working with the backbone of the German economy, the Mittelstand, to jointly transform industrial purchasing digitally, intelligently and sustainably," says André Petry, co-founder of Tacto.

Tacto develops an automated software solution for purchasing in medium-sized businesses. The AI-based software is designed to give customers an overview of their procurement activities. The program identifies risk and savings potential and is intended to automate processes in purchasing and supplier management. This should allow employees to focus on the essentials and eliminate the need for an expensive IT department.